Wesfarmers : WES

Telstra : TLS

$2.90 is a major crosss stream.

Last support was broken at this level.

Which has now become a major resistance line.

Bulls and Bears exchanging passes.

Alumina : AWC

Limit $3.00 to $3.20
Stop $2.42
Current Price : $2.52
Risk:Reward : $0.10:$0.50 [1:5]

Time Frame 2-3weeks

WPL : Woodside Petroleum

HAL : Haliburton

NCM : Daily Chart : Sell Signal.

NCM : Head & Shoulder Reversal

Head & Shoulder reversal target price projection = $34
Currently, could be a rising wedge formation.

Alumina : A weekly perspective

Gradually Accumulate ....

Alumina : AWC : taking another look.

Telstra : half hearted Bull ??

How TAH got away??

A look at Rio Tinto

Rio Tinto looking bullish on the Weekly Chart.
Going for the 5th of the 3rd wave.
Fundamentally. Financially. Seems to be in a strong position as well.
If Wave 1 = Wave 5 = $10
Target = $94

If Wave 4 disects the whole impulse by 2/3 in this case
Then Wave 5 = $10.
[Wave 0 to 4 = $20 => Wave 5 = $10]
[Whole Impulse wave = $30]
Target = $94.00

On 2 Elliot count will give us a Target of $94.00
Currently Rio is Trading at $87.62

Say Enter at $88.00
Profit of $6.





On Daily Chart.
If count is right.
Then Wave 2 : Correction wave is in progress.
Has it completed ??
Wait and see.
If it retrace by 33%, 50% or 61% ??

Rio Tintoretto : RIO

Haliburton : Hal

Technical :Bull - triangle consolidation. Breakout.
Fundamental : Bear :36% profit drop. Clawing back market share. Queensland flood repair cost
NBN yet to be finalise.

Wesfarmers : WES

Supported at $33.50
Resistance at $34.00

AMZN & SBUX

Telstra Weekly Chart for perspective

Still keeping to the Triangle consolidation breakout story.

Telstra : TLS

Love hate relationship.
A stk funds cannot ignore.
If nothing else it's high yield dividend.
So far, profit down by 36% for this past qtr.

Update CMW : still in play....

Still in Trading Zone
Still playing breakout.
Critical support 0.74
Prices still in consolidation zone.
Range 0.74 to 0.77.

Nexus Energy

Okay.
There is a lot on the chart.
Firstly Prices has broken out of the symmetrical triangle (purple lines)
Broke out and consolidated
Forming a Trend Channel in the process.(lime green lines)
Top of channel meets a resistance line
At 0.535.
Analyst have been calling a target of 0.61.

Look at previous post for longer term view.
For trading 0.53 is first out.

A post mortem on Raffles Education

A Post Mortem on Raffles Education.
Too emotionally charged to win.

1st Time. How I came to notice Raffles Education is thru Stock and Shares magazine.
I was following Informatics and somehow I came across Raffles Education which looks
technically great on the weekly chart.
It has broken out.

2nd time : A trader friend mentioned that he has recieved recommendation to buy Raffles.
My interest was already perked. But I could and had the foresight to expect a 5th wave.
And then pull back.

I congratulate myself for being smart and correct.
It did go up and pull back.

The not so smart part or trying to be too smart,
I thought now,Yes ! , there is the wave 1 [completed 5 impulse waves]
and I had waited for the pull back the Wave A.

entirely ignored there is a B & C
Bullishly think that the wave down is wave 2 correction completed.
Went in and got caught.

SPY : Expect a correction

I just drew this on Doodle Buddy for iPad. With Doodle Buddy you can create awesome drawings on tons of backgrounds and even use cool stamps. Doodle Buddy is also available for iPhone and iPod touch. Check it out at www.pinger.com.

Cheers

Mark (Chin M)

WPL : woodside Petroleum : Keeping an eye out on WPL

WPL : woodside Petroleum : Keeping an eye out on WPL
as an Oil, Gas & Energy play.

Nexus : Share price tipped to go up despite loss.

Ref to previous post on * Feburary on Nexus




Followed up update on Nexus :




AFR Article :

Brisbane property to drop 10% to 35%

Star bucks : SBUX

WES

Wes : Wesfarmers
Hourly Chart.
Prices has weakened.
Flag formation is abolished.
Waiting for a reversal to get out.

WHC : watching and Update

2 shooting stars. A bearish reversal signal.
Stochs pointing downwards.
Prices going back towards the mean.
However will not go down without a fight.
Trend line is still up.
If Trend is a friend its has to be a friend now.
Triangle play is over.
Prices tested both the trend line and foremer resistance line.
If test and rebound from tehre there is still hope yet !!

Watching Cromwell : AU:CMW

Crowmwell or CMW is done about 8 weeks of consolidation.
Basically over the Holiday period and the Capricorn month.
The 2 months of consolidation forms the handle of the cup
Alot of consolidation going on. Alot of energy build up.
That energy has to go some where !!