The local market ran into resistance at the downwards sloping trend line. Will the usual seasonal rebound in markets after the US mid-term elections apply this year? Watching.
On the four-hourly chart you can see price fell after hitting the resistance lines. How far it falls could give a clue to what direction the market might take from here. Or not.
On a weekly chart the longer term support is holding for now and grinding it out at a lowly 5 per cent a year plus dividends.
Spiking higher on Monday after an article in the Financial Review revealed energy investor Trevor St Baker had increased his stake the State Gas price has dropped over the next two days. We bought a small parcel for the educational portfolio. The volatility is not for the faint hearted and a smaller position size is one way to play the risk.
In a puzzling look some Australian gold miners are trading at an equal or lower price than December 2016 while the price of gold in US dollars is up around 40 per cent.
The gold price is higher since December 2016.
Fortescue Metals has had a series of lower highs and the company’s hydrogen strategy came in for some strong criticism at a recent energy summit.
PWR Holdings is forming a similar looking pattern that previously resulted in a nice move up. Watching.
Amcor is holding the recent break higher for now.
After making a series of lower highs can graphite miner Syrah finally overcome resistance.
IDP Education is yet to break out of the potential bullish flag pattern.
Mineral Resources is holding onto the recent break up and is near record highs as speculation swirls that the company will hive off their lithium interests.
Table
Security | Units bought (sold) | Date | Open price/ From last table | Current/close | $ gain/loss |
Bought Whitehaven Coal c/f at $2.76 | Bought 300 at $2.70 | 23/12/2021 | $9.76 | $10.37 | +$183.00 |
Bought Computershare | Bought 120 at $20.50 | 5/1/2022 | $25.65 | $25.38 | -$32.40 |
Bought CSL
| Bought 12 at $260.00 | 16/2/2022 | $290.00 | $282.00 | -$96.00 |
Bought Brainchip
| Bought 2,000 at 80c | 16/6/2022 | 91c | 84c | -$140.00 |
Bought Aristocrat Leisure | Bought 100 at $35.60 | 6/7/2022 | $34.35 | $34.35 | Steady |
Bought Whitehaven Coal | Bought 300 at $6.00 | 18/7/2022 | $9.76 | $10.37 | +$183.00 |
Bought Australian Vanadium | Bought 25,000 at 0.05 | 10/8/2022 | 0.037c | .03 | -$175.00 |
Bought Stavely Minerals | Bought 10,000 at 18c | 10/8/2022 | 16.5c | 15 | -$150.00 |
Buy GEAR ETF
| Bought 200 at $20.20 | 4/10/2022 | $22.04 | $20.65 | -$278.00 |
Buy Red 5
| Bought 10,000 at 17c | 4/10/2022 | 18c | 16.5c | -$150.00 |
Buy ASX 200 cfd’s
| Bought 2 at 6,600 | 4/10/2022 | 6,815 | Sold 2 at 6,680
| -$300.00 |
Buy IDP Education
| Bought 100 at $28.50 | 5/10/2022 | $28.50 | $27.95 | -$55.00 |
Buy State Gas
| Bought 5,000 at 42c | 10/10/2022 | 42c | 37c | -$250.00 |
|
|
|
|
|
|
Start 2/1/2022 $50,000.00 | Open balance $68,011.45 |
| |
| $68,011.45 |
| Gains/losses week -$1,260.40 |
|
|
| -$1,260.40 |
| Current total $66,750.95 |
|
|
| $66,750.95 |
Brokerage at $30 per round turn added when sold. | Buy/ close prices and Margin $31,721.60 |
|
|
| $31,721.60 |
Prices from Wednesday night or 6am for US positions. | Cash available $34,237.40 |
|
|
| $34,237.40
|
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.
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