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XAO Technical Analysis

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Re: XAO Analysis

Been out of the market for a while. Have cash sitting there waiting. This will be the third attempt at 4200. if it holds then it will go back to 5000. Some nice shares to invest in. If not then i don't think 4000 will stop it. So i will watch. But positive rise today even with bad news in us. Probably will pick some up soon.
 
Re: XAO Analysis

Kennas. notwithstanding the current climate but respectfully though an intimate disclosure on a 2 year chart on where the xao is heading? Wouldnt say a 6 month or YTD chart be more appropriate?
 
Re: XAO Analysis

AB = CD , reference levels marked , channel marked , july lows marked , great geometry , 5day50 providing stout resistance , no bend at the end as yet
 

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Re: XAO Analysis

Great chart... thankyou very much ginar... puts things into perspective. Just wish this forum would let us vote on your post. Big upward tick from me. LOL

Again thanks
 
Re: XAO Analysis

Another view perhaps.
The short setup (TS3) on 21/06 reached first predicted target.
If the setup (TS3) on 09/08 does the same then we are looking at around 4250 as a minimum.

Just my input.

(click to enlarge)
 

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Re: XAO Analysis

Some squiggles on a non semilog.

Between 4000-4250 ish looks important to the downside.

4600 on the way up.

5000 looks more important of course.
 

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Re: XAO Analysis

if we repeat ranges already done this 5th wave should take us < 4200 . reference levels marked , self explanatory ...
 

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Re: XAO Analysis

The goal posts have moved, this is not going to be a straight forward plot and wait...
.
 

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Re: XAO Analysis

XAO is approaching an area of potential resistance ?

(click to expand)
 

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Re: XAO Analysis


Not a bad guess, considering I didn't really put much effort into it.

It will be interesting to see what happens now as we approach this next resistance zone.
A couple of things to note on the chart.
Green line indicates the lower highs but the green line the Above 50% indicator actually shows higher highs - meaning while the market is struggling to break through that area of resistance more and more stocks are moving to "bullish" positions - hence we could see a "breakout" of sorts.

But I'm still favouring more sideways action so I think we will head back towards 4400 before any sort of breakout but an immediate push towards 5000 isn't out of the question - I just don't know if the market will have enough oomph to get through this area yet. I think we will see some weakness next week and just how the market reacts to that weakness will be telling. If some serious weakness does come in that attempt at 4200 in Sept/Oct is still a chance but is probably my least favoured scenario atm.
 

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Re: XAO Analysis

4600 to be tested here. Looks pivotal to me. If we break through, then 4500-600 should be support. Changes the game just a little I reckon. Makes 4200 look more bottominsh in this phase. But, if 4600 fails, even greater resistance and sideways to down bias.
 
Re: XAO Analysis


I look at testing and failure or success of resistance/support "perhaps" a little differently.

If this resistance at 4600 ish is tested more often I see it as becoming weaker rather than (as you point out) stronger. Those who are caught around here long once they have unloaded will see testing pass right through and as you correctly state should become support going forward.
This mornings dumping (Got me out of jail!!) at these levels was swift but has since pulled up.
A quick retest could well see a break through.
Your right an important level.
 
Re: XAO Analysis

tech/a said:
I look at testing and failure or success of resistance/support "perhaps" a little differently.

If this resistance at 4600 ish is tested more often I see it as becoming weaker rather than (as you point out) stronger.
Click to expand...
Actually, I agree with you on that tech. Not sure if there's any stats on that, just intuitive perhaps.

4600 is around the 200d ma also which might be an additional factor.
 
Re: XAO Analysis

ASX Small Ords is off and running. September is seasonally not the best time, however I do like when the smaller end of the market is leading the way.

 
Re: XAO Analysis

sammy84 said:
ASX Small Ords is off and running. September is seasonally not the best time, however I do like when the smaller end of the market is leading the way.
Click to expand...

that pic says a thousand words.......good post, sammy
 
Re: XAO Analysis

of course, prices ascending, at this stage of the rebound need to expand on breadth, otherwise the narrow nature would show a focus on stocks that are seen as earners in any weather especially as we near the weekly highs.........
 
Re: XAO Analysis

Looking a bit toppy to me.

Whether it's a Triangle wave 'í' or a Diagonal Triangle wave 'B', it looks to me like some corrective time coming up.
 

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