1. Most Discussed
  2. Gainers & Losers
XJO 6,339.2

Against the Wind - Friday

  1. Jako8557

    15,690 Posts.
    460
    050215 Henry Ford.png




    Good Morning and Welcome to the XJO Friday Thread



    050215 no good ideas.png



    News for Today (AEDST)

    050215 news.png



    The XJO closed higher (again) on Thursday.

    However, the Index found the going a little more difficult, at a similar level to where price had some difficulties on Wednesday.
    Volume (value traded) reduced to about average, and spread reduced considerably compared to the previous two days.


    The reduced volume took some of the 'oomph' away from the Index that was present behind Tuesday and Wednesday widespread bars. So after dipping lower and potentially absorbing supply during the early morning session, the Index eventually pushed higher, but with more of a grinding motion, than the frenetic price action seen earlier in the week.

    This can be better seen on the Intraday chart (further down below), where price spent the majority of the morning below the 5780 line mentioned yesterday. Notice the pressing nature of the bars towards the upside, and the downbars getting narrower as it came off towards the downside, also the inability for the Index to make lower lows, and the lack of easy follow through when downbars did appear. All of this was suggesting absorption of supply. And late in the morning, price eventually broke up through that 5780 line, and had a little more absorption to do at 5790, from some supply left behind on Wednesday, then it never really looked back for the rest of the session.

    050215 xjo.png

    XJO ~10min, 3 point wave

    050215 xjo intra.png



    050215 revenue.png


    Good trading and Investing


    .

    W.png

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.