The local market looks to be trapped in a sideways pattern for now and with a few days closing down below the highs of the day it could be a growing sign of market weakness.
The price of gold has moved back to retest the upper line of the channel which it had just broken out of. Can it move higher from here?
Whitehaven Coal has moved up to a potential resistance zone and stalled twice. Can it punch through on the third push up?
ARB Corporation has moved down to retest possible support.
Lifestyle Communities is trading sideways above previous resistance.
We bought Audinate after a second analyst named it as a potential “portfolio” changer and it posted a nice trading update.
Resolute Mining has moved above the down trend line and could form a higher low over the next few days.
Fortescue Metals has moved out of a congestion pattern on the weekly chart with a pattern target of around $29 if it can overcome the previous high.
BHP is once again trying to make a decisive move above the $50 round number level.
Paradigm Biopharma is currently in a nice down trend channel. Can it rebound off this possible support zone?
Bubs Australia could be close to making a move higher.
We have a few stocks in the educational portfolio trading close to their trailing stop levels and will be monitoring them closely to sell when needed and possibly hedge against a wider market fall.
Table
Security | Units bought (sold) | Date | Open price/ From last table | Current/close | $ gain/loss |
Buy CSL c/fwd 29/12/2020 at $288.30 | Bought 10 at $183.00 3/12/2018 | 3/12/2018 | $277.23 | $279.51 | +$22.80 |
Bought NDQ ETF c/f $28.07 | Bought 100 at $26.50 | 1/10/2020 | $30.87 | $31.68 | +$81.00 |
Bought Resimac c/f $2.04 | Bought 1,500 at $1.45 | 2/10/2020 | $2.34 | $2.34 | Steady |
Bought Uniti Group
| Bought 800 at $2.15 | 24/2/2021 | $3.14 | $3.31 | +$136.00 |
Buy Paladin
| Bought 6,000 at 37.5c | 24/3/2021 | 52 | 50 | -$120.00 |
Bought City Chic
| Bought 600 at $4.40 | 22/4/2021 | $5.15 | $5.27 | +$72.00 |
Bought Bravura
| Bought 400 at $3.00 | 5/5/2021 | $3.36 | $3.33 | -$12.00 |
Bought Worley
| Bought 250 at $11.30 | 5/5/2021 | $11.60 | $11.49 | -$27.50 |
Bought Computershare | Bought 200 at $15.50 | 21/5/2021 | $16.40 | $16.11 | -$58.00 |
Bought Webjet
| Bought 500 at $5.20 | 2/6/2021 | $5.15 | $5.10 | -$25.00 |
Bought Whitehaven Coal | Bought 1,500 at $1.90 | 9/6/2021 | $2.13 | $1.99 | -$255.00 |
Bought Super Retail
| Bought 200 at $13.19 | 16/62021 | $12.37 | $12.62 | +$50.00 |
Bought A2 Milk
| Bought 400 at $5.93 | 16/6/2021 | $6.69 | $7.09 | +$160.00 |
Telix Pharmaceutical
| Bought 500 at $5.70 | 24/6/2021 | $5.54 | $5.32 | -$110.00 |
Bought Bapcor
| Bought 400 at $8.50 | 30/6/2021 | $8.18 | $8.06 | -$48.00 |
Bought Resolute Mining | Bought 5,000 at 58c | 7/7/2021 | 58c | 59.5 | +$75.00 |
Bought Audinate
| Bought 300 at $8.90 | 9/7/2021 | $8.90 | $10.03 | +$339.00 |
|
|
|
|
|
|
Start 2/1/2020 $50,000.00 | Open balance $58,128.70 |
|
|
| $58,128.70 |
| Gains/losses week +$280.30 |
|
|
| +$280.30 |
| Current total $58,409.00 |
|
|
| $58,409.00 |
Brokerage at $30 per round turn added when sold. | Buy/ close prices and Margin $43,085.00 |
|
|
| $43,085.00 |
Prices from Wednesday night or 6am for US positions. | Cash available $9,399.90 |
|
|
| $9,399.90
|
Disclaimer: The commentary and trading positions taken are for educational purposes only and are not an invitation to trade. Trading is risky and individuals should seek Professional counsel before making any financial decisions. Many thanks to Incredible Charts.com software for most of the charts used in the column.
Monitor, measure, manage and maximise… Cheers Charlie.
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