I’m home avoiding the heat today as temperatures are forecast to drift up to 40 degrees Celsius; that’s circa 104 in Fahrenheit terms. It’s the beach in the am and pm and charts and pool by the day. My latest scan of the Aussie XAO revealed a few new stocks which I’m keeping an eye on for any trend line and/or Volume breakouts.
XAO weekly: The ASX All Ordinaries Index: keep an eye on the 10-year trend line being tested here. Note how bullish momentum is ticking higher too which would underpin any bullish breakout and continuation. Any bullish breakout on the index would support bullish momentum for the component stocks:
CAA weekly: Capral Ltd: need a trend line and Volume b/o:
GRR weekly: Grange Resources: I’d prefer to see a break and hold above 0.25 and more Volume:
MGX: Mt Gibson Iron: some more Volume needed first:
RCR weekly: RCR Tomlinson Ltd: need a trend line and Volume b/o:
SSM weekly: Service Stream: need a trend line and Volume b/o here too:
TGR weekly: Tassal Group: need a trend line and Volume b/o here too:
TRS weekly: The Reject Shop: the move back above $9 is encouraging but it needs to clear the Cloud and see more Volume.