XJO - S&P ASX 200
XJO sitting right on its current trend line.
CMR - Compass Resources
Second pullback for CMR after breaking out. Optimal entry would have been the first pullback after breaking the 100MA.
AGO - Atlass Iron
After a sharp stron volume rally, prices have pull back on weaker volume. Looks to be forming a bullish pennant.
FLT - Flight Centre Limited
Swing low in October 2007 and March 2008 was broken with a 7% fall on the 5th of May. FLT has since retested this breakout and looks like it has held. Possible resistance around $18.
My watch list for the week
ABY - Aditya Birla Minerals Limited
After breaking out on the 19/04/08, ABY has been cosnolidating. Look for a break of this trading range.
BBP - Babcock and Brown Power
Higher highs, and lower lows ... also has broken the 100MA with ADX showing signs of a trend. Look for a pullback between the 10MA and 30EMA for another entry.
NAB - National Australia Bank Limited
The strongest chart if the big 4 banks, currently trading above the 100MA. ADX starting to move above 20 suggesting a start of a new trend.
Long delay since my last real post. Like most people I've had a extremely busy couple of weeks with weddings, family, football and work. Currently getting ready for a trip to Dallas so the next couple of weeks are not going to get any better.
A couple of my holdings are currently at areas of interest so I thought I would post their charts.
Industrea - IDL
Industrea is a stock I have been following for a while now. It has been on a consistent, strong uptrend and formed a strong hammer on the 28th of Feb when the market had its first scare.
Last week IDL traded between $0.40 and $0.41 but today along with the all ordinaries has closed down currently trading at $0.39. Nanine posted late last week that she has sold her holdings.
Albidon Limited - ALB
Albidon Limited is a minerals exploration company that has benefited from the recent increase in nickel prices. As the chart shows, ALB has seen on a strong uptrend since mid January and I took a position in ALB a couple of days after the correction at $2.19 on the 7th of March. ALB has since surged to a 52 week high of $2.77 and closed today at $2.66.
I will keep a close eye on the lower trend line, count back line at $2.48.
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