These are the Aussie stocks from my watch list that have made recent bullish breakouts. Charts with bullish targets are posted below.
There is a lot of negative talk with stocks with many seeing the recent rally as a dead cat bounce type of move but I’m not seeing how this can be concluded. I’m still seeing the ASX-200 / XJO in an long-term uptrend since the 2009 turn following the GFC. The XJO is still printing higher Highs and higher Lows and so the trend remains up, IMHO, until this support trend line is broken:
ASX-200 / XJO weekly: a bullish weekly candle and the trend line remains intact with the index printing higher Highs and higher Lows for the time being:
ASX Stocks and ETFs
A2M weekly: this has made a bullish Flag breakout with the first target being the recent high, circa $14, followed by the Bull Flag target of $23. The Bull Flag target is derived by adding the length of the Flag Pole to the level of the breakout (see second chart).
AMP weekly: this has made a descending channel breakout with the target being at the 61.8% fib, circa $4.50:
APT AfterPay Touch Group weekly: this has made a triangle breakout with the target being at the 61.8% fib, circa $18:
BSL Bluescope Steel weekly: this has made a triangle breakout with the target being at the 61.8% fib, circa $16:
CLQ Clean Teq Holdings weekly: this has made a descending wedge breakout with the target being at the 61.8% fib, circa $1.25:
FLT Flight Centre weekly: this has made a descending wedge breakout with the target being at the 61.8% fib, circa $60:
FMG Fortesque Metals Group weekly: this has made a descending wedge breakout with the target being at the 61.8% fib, circa $6:
KGN Kogan weekly: this has made a triangle breakout with the target being at the 61.8% fib, circa $7:
NCM Newcrest Mining weekly: this has made a triangle breakout with the target being at the 61.8% fib, circa $30:
NDQ NASDAQ ETF weekly: this has made a Bull Flag style breakout with the first target being at the recent high of $19 followed by the Bull Flag target of $24. The Bull Flag target is derived by adding the length of the Flag Pole to the level of the breakout (see second chart):
NXT Nextdc weekly: this has made a Bull Flag style breakout with the first target being at the recent high of $8 followed by the Bull Flag target of $11:
TGA Thorn Group weekly: this has made a descending wedge breakout with the target being at the 61.8% fib, circa $2.25:
TWE Treasury Wine Estate weekly: this popped on Friday and I suspect this may have been helped along by the wine trade deal brokered with the UK. The stock has made a Bull Flag style breakout with the first target being at the recent high of $20 followed by the Bull Flag target of $30. The Bull Flag target is derived by adding the length of the Flag Pole to the level of the breakout (see second chart):
VRL Village Roadshow weekly: this has made a descending wedge breakout with the first target being at the 50% fib, circa $5:
WTC Wisetech Global weekly: this has made a triangle breakout with the first target being at the recent high, circa $25:
