I posted earlier about some ASX Small Ordinaries stocks that caught my interest but here are a few other regulars from my watch list that also have my eye. As always, do you own due diligence before any investing or trading and manage risk appropriately.
Remember that I am analyzing these stocks from a Technical Analysis perspective and not from a Fundamental perspective. I am looking for trading opportunities and not long-term investment opportunities so please keep this in mind as you scroll through these charts. I use Fibonacci levels to help identify target levels and you can read about my perceived value of Fibonacci through this link and see more examples at this link.
With most of these charts I am watching for any trend line breakout and, then, for potential retracement to the 61.8% fib or to near a major S/R zone. These horizontal levels are marked on the charts.
AIZ weekly: any bullish triangle breakout would have me looking for a push up to the $10 level as this is previous S/R and near the 61.8% fib:
AJX weekly: watching for any break and hold above $0.20 for a push up to the $0.80 level as this is previous S/R and near the 61.8% fib::
ASIA daily: watching for any breakout and, if bullish, to test the recent High, near $6,40:
CPU weekly: in this case I’m watching for any Bull Flag breakout and, if bullish, for an upward move equal in length to the height of the Flag pole; ie by $12:
IFN weekly: any bullish wedge breakout would have me looking for a push up to the $1.25 level as this is previous S/R and near the 61.8% fib:
ISD weekly: any break and hold above $0.40 would have me looking for a push up to the $3 level as this is previous S/R and near the 61.8% fib:
ISX weekly: If $7 gives way, then I’m watching for any pullback to the $0.40 here:
NTC weekly: any continued wedge breakout would have me looking for a push up to the $2.50 level as this is previous S/R and near the 61.8% fib:
OCL weekly: in this case I’m watching for any Bull Flag breakout and, if bullish, for an upward move equal in length to the height of the Flag pole; ie by $3:
PPS weekly: any bullish wedge breakout would have me looking for a push up to the $0.90 level as this is previous S/R and near the 61.8% fib:
SPT daily: any bullish wedge breakout would have me looking for a push up to the $1.40 level as this is previous S/R and near the 61.8% fib:
TNY weekly: in this case I’m watching for any Bull Flag breakout and, if bullish, for an upward move equal in length to the height of the Flag pole; ie by $1.10:
WHC weekly: looks to be in a type of Cup’n’Handle pattern. The theory behind these patterns is that any bullish outbreak might extend by the same extent as the height of the Cup. In this case, any bullish breakout above $6 might extend a further $5 and so this could be used as a potential profit target.
WZR weekly: any bullish triangle breakout would have me looking for a push up to the $0.70 level as this is previous S/R and near the 61.8% fib:
