This article is a follow-up to an article I wrote in December where I noted the considerable achievement of the ASX-200 when it moved above the key 6,000 level. The index managed to close 2017 above this huge level and I am now looking for continuation up to 6,800. As the saying goes, A rising tide floats all boats so most stocks should benefit from any broader positive sentiment but there are a few sectors that seem to be standing out in both US and Aussie markets. I noted US stocks I’m trading in a weekend post and this article is about Aussie stocks that have my interest.
XJO: ASX-200: I’m looking for any continued hold above 6,000 to support a move up to 6,800 which is the previous high and target for the Cup’n’Handle move. Any close and hold above 6,800 would then have me looking to 10,400 which is the target for the ascending triangle breakout.
XJO monthly:
XJO weekly:
XJO daily:
Sectors and Stocks:
There are a few sectors that seem to stand out for me as offering potential for significant recovery alongside any overall bullish sentiment. These include the Materials and Metal and Mining sectors along with a few in Services (Consumer Discretionary) and and even a couple in the Finance space.
NB: With all of these charts I’m watching for breakouts from periods of consolidation. If there has been a breakout then I’m watching for follow-through to specific targets (usually noted on the charts as fib levels)
Materials (XMJ) and Metals and Mining (XMM): these two sectors look to have the best potential for bullish recovery and there are lots of stocks that fall within that are worth considering on any new trend line breakout:
- XMJ
- XMM
AWC weekly: this has already broken out and I’m watching for any move up to $5:
BHP weekly: $35 is the target I have here:
ERA: I’m watching for a move back up to $12:
ERA weekly:
EVN weekly:
SEA weekly: I’m watching for a move to $1.00:
FMG weekly:
GBG weekly:
ILU weekly: I’m watching for a move to $14.00:
NCM weekly:
PRU weekly: I’m watching for a move to $2.50:
WPL weekly: I’m watching for a move to $40 and then $50:
WSA weekly: I’m watching for a move to $8.00:
RIO weekly:
SBM weekly: I’m watching for a move to $9.00:
TAW: I’m watching for a move to $12.00:
TAW weekly:
TAW daily:
SLR weekly:
SFR weekly:
AJX weekly:
BCI:
BCI weekly:
BCI daily:
GCY weekly:
GRR weekly:
MCR weekly:
MGX weekly:
OZL weekly:
QBL weekly:
MND weekly:
Financials:
XFJ: Financials ETF: shows some resistance could be ahead:
ANZ weekly:
BOQ weekly:
CBA weekly:
FFG weekly:
NAB weekly:
Consumer Discretionary and Services:
XDJ weekly: Consumer Discretionary:
BKL weekly: look how price turned at the 61.8% fib!
DMP weekly:
FLN weekly:
LON: I’m watching for a move to $8.00:
LON weekly:
LON daily:
Energy:
XEJ weekly: Energy ETF:
BUL weekly:
ORG weekly:
