NASDAQ – Chart Review
NASDAQ
XJO – Chart Review
The XJO is now trading at the upper band of the consolidation channel that’s been in place since mid-last year.
23/4/2022 Update:
Westpac – Sell
Westpac Banking is under Algo Engine sell conditions.
Bitcoin – Sell Signal
The rebound in the NASDAQ has been sharp and it’s possible we’re now looking at a level of overhead resistance. For crypto investors, this provides an opportunity to consider hedging or an outright short position.
The strategy requires a stop loss which means any short exposure is closed out if the market rally continues.
7/4/22 update: BTC-USD has rolled over and the technical setup remains negative.
23/4/22 update: The NASDAQ continues to move lower reflecting a risk-off sentiment, which is also impacting Bitcoin. BTC is under Algo Engine sell conditions and we remain short Bitcoin futures as an open trade.
Microstrategy – Algo Sell
Microstrategy Inc is under Algo Engine sell conditions. We remain short MSTR on the proviso the price action is below the overhead resistance.
Star Entertainment – Chart Review
The Star Entertainment Group is under Algo Engine buy conditions.
The Star says it expects to see strong revenue growth under normalising business conditions.
15/4 update: The share price is trading within our forecast trading range and we’re now monitoring the short-term price action and momentum indicators for signals of increased buying activity.
Aristocrat – Algo Buy
Aristocrat Leisure is under Algo Engine buy conditions.
Ramsay Healthcare – Takeover
Ramsay Health Care announced to the ASX that it had received a conditional, non-binding, indicative bid from a consortium of investors led by KKR. The bid price is $88.
Aristocrat – Algo Buy
Aristocrat Leisure is under Algo Engine buy conditions.
Star Entertainment – Chart Review
The Star Entertainment Group is under Algo Engine buy conditions.
The Star says it expects to see strong revenue growth under normalising business conditions.
15/4 update: The share price is trading within our forecast trading range and we’re now monitoring the short-term price action and momentum indicators for signals of increased buying activity.
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