ANZ|Emerging Buy
Trading Tactics
Open a few longs only with an upside break above 30.00/10 placing stops at 29.60 and looking for a move to 31.20.
Rationale
Pattern recognition and wave count trade. A confirmed break above 30.10/25 implies a move to 31.20 which should be followed by a pull back to 29.00. The break will most likely occur in the next few days and would take around 5 days to achieve the upside target. I am assuming this pattern is a 4th wave which implies a 5th wave higher before a decent pull back to around 29.00.
source - fwtc.com.au
technical trading idea
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 (20min delay)
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Last
$28.29 |
Change
0.605(2.19%) |
Mkt cap ! $84.94B | |||
| Open | High | Low | Value | Volume |
| $28.02 | $28.34 | $27.82 | $145.8M | 5.172M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 8087 | $28.28 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $28.29 | 833 | 3 |
View Market Depth
| Last trade - 15.54pm 16/05/2024 (20 minute delay) ? |
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Last
$28.32 |
Change
0.605 ( 2.40 %) |
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| Open | High | Low | Volume | ||
| $28.01 | $28.34 | $27.82 | 712071 | ||
| Last updated 15.59pm 16/05/2024 ? | |||||
| ANZ (ASX) Chart |