Despite the U.S. problems, here are 3 Australian stocks looking technically good

IAG, NEA and ALL are three ASX listed stocks which are technically looking strong, despite the overall sell off of global markets recently.

IAG has been tracking in a long sideways pattern with resistance at $6. It broke that today and despite it coming off by around 10 cents at the time of writing, it is showing all the hallmarks of a potentially good trade.

NEA had a huge volume of sellers sitting on the sell side of the ledger at 40 cents. This is exactly in line with resistance. However the huge volume of NEA shares traded today has pushed through resistance. We are looking for a close above 40 cents today. The very broad ascending triangle pattern is indicating a long term upside target of 80 cents.

In our most recent free newsletter we said that ALL is a buy if it broke above $4.75. ALL has broken long term overhead resistance at $4.75 and by our reckoning, the stock will slowly track upwards by around $3 over the coming months.

We will provide charts of these stocks and updated analysis in our next FREE FORTNIGHTLY newsletter, posted as always on this blog. Back copies are available free from our website, www.stpt.com.au

Our latest newsletter is available

Its a time to take caution.

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A look at international markets

We always take an interest in international markets because of their influence over our own market. In the attached PDF we look at the charts of some international markets.

DOWNLOAD THE PDF HERE

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Dressing up CDU instead of speculating without any pants on

In the attached article we look at how I take a stock like CDU which as recently had a lot of excitement surrounding it, and analyze the stock using my prefered technical techniques until one of them can successfully be applied. If none of my techniques could be applied, I would leave CDU on the watch list and not touch it until it satisfied me further.

As shown in this brief article, CDU fails on two techniques, but is workable as a trade using my DEMAC technique.

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Can we redraw trendlines? We start an experiment

In our PDF article attached to this blog post, we discuss a circumstance where we may be able to redraw a trendline. In our case, we are doing an experiment using the ASX code, MYR. To download the article, click here

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Our latest FREE fortnightly newsletter is now available for download from HERE.

In this issue we follow up on some previously mentioned stocks such as ALQ, ASL, EVN and PAN. We also look at SEK, ALL and NVT.

This newsletter is free to anyone to download, however, its main purpose is to act as an educational supplement and to demonstrate in near real-time, the personally devised techniques outlined in the book Simple Tactics, Profitable Trading available HERE.

Those who have bought the book can see our application of our techniques and decide for themselves whether or not some or all of these techniques are useful in their own pursuit of profit.

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SEK is making a great flag pattern

SEK is making a great flag pattern and a breakout above $11 could see it head towards $12.80.



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ALSO, dont forget to check out our Trading Psychology Blog HERE

We have started a series of articles on trading psychology on this blog. These articles are based on material in our NEW BOOK, THE MENTAL TRADER: Winning the Mental Tug of War in the Market.

BOOK LAUNCH DISCOUNT SPECIAL

This book has been reviewed by Daryl Guppy and Alan Hull.

ABOUT THE BOOK, Daryl says:

"I think he (PAUL) has got some useful and interesting things to say. Thisisnew material and a good guide for new and existing traders."

ABOUT THE BOOK, Alan says:

"Hi Paul, just finished reading your book and I believe it to be a well written book with some very worthwhile insights - its engaging, anecdotal and reflects the fact that you are obviously well read yourself and an experienced trader/investor. I would recommend it to my students but I would place the caveat on it that it requires a degree of prerequisite knowledge and market experience."

Thanks Daryl and Alan.