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Passionate about the markets and Technical Analysis. The learning never stops!

Thursday, February 23, 2017

Ausgroup - waiting for a break above 0.062

Lately, a number of oil related stocks have been starting to rise from Stage 1 of the market cycle towards Stage 2.  (See "4 Stages of a Market Cycle: here)

Ausgroup is one such stock that appears to be close to breaking above the near term resistence of 0.062.  If it does breakup eventually with strong volume, then the odds are good that it could reach an initial projected target of about 0.085 (37% upside).

 Let's wait and see.

 Note: project target are only odds, it could fall short.  Hence I would also trail my stops up as the stock progresses in my favor.


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