ThinkTechnical 18 September

In today's ThinkTechnical we'll take a look at the technical picture for range of small, medium and larger capitalisation stocks from a wide range of sectors including: 

AUB Group (AUB), Antipa Minerals (AZY), Catapult Group International (CAT), Data#3 (DTL), Lifestyle Communities (LIC), Mali Lithium (MLL), Megaport (MP1), Newcrest Mining (NCM) and People Infrastructure (PPE).

 

AUB Group is in a well-defined short term uptrend, as evidenced by the 21 EMA located above the 34 EMA and with each EMA rising. The long term uptrend is also well-defined, as evidenced by the 144 EMA located above the 233 EMA and with each EMA rising.

Static resistance will be encountered at the 17 Sep 2020 high of 16.64.

Static support will be encountered at the 09 Sep 2020 low of 15.38.

Note that static support at 15.38 coincides with dynamic short term support expected to be encountered in the zone defined by the 21-34 EMAs, projected between 15.05 and 15.50. Whenever multiple support factors coincide, the market response at the zone defined by these factors tends to be stronger.

Beyond 16.64, AUB is at all-time highs, and therefore targets are open ended. Note however, static resistance will likely be ecountered at the 20.00 round number.

Traders may wish to buy at the static and dynamic support zones with stops set below these levels. If this cannot be achieved, then traders may have to consider buying on a breach of today's high of 16.74.

 

Antipa Minerals is in a well-defined short term uptrend, as evidenced by the 21 EMA located above the 34 EMA and with each EMA rising. The long term uptrend is also well-defined, as evidenced by the 144 EMA located above the 233 EMA and with each EMA rising.

Static resistance will be encountered at the 01 Sep 2020 high of 0.051, and then at the 24 Jul 2020 high of 0.058.

Static support will be encountered at the 09 Sep 2020 low of 0.042.

The dynamic short term support zone is defined by the 21-34 EMAs, projected between 0.045 and 0.046. The price has been consistently rebounding higher out of the short term dynamic support zone since the short term uptrend began in March. This highlights the importance of this zone as a future area of potential dynamic short term support going forwards.

Targets are to the 24 Jul 2020 high of 0.058. Beyond 0.058, AZY has little in the way of key price action-based static resistance points to impede upside progress. Note however, static resistance will likely be encountered at the 0.100 round number.

Traders may wish to buy at the static and dynamic support zones with stops set below these levels. If this cannot be achieved, then traders may have to consider buying on a breach of 0.051.

 

Catapult Group International is in a short term uptrend, as evidenced by the 21 EMA located above the 34 EMA. The long term uptrend is well-defined, as evidenced by the 144 EMA located above the 233 EMA and with each EMA rising.

Static resistance will be encountered at the 03 Sep 2020 high of 2.46.

Static support will be encountered at the 14 Sep 2020 low of 1.85.

The dynamic short term support zone is defined by the 21-34 EMAs, projected between 1.97 and 2.05. The price has been consistently rebounding higher out of the short term dynamic support zone since the short term uptrend began in July. This highlights the importance of this zone as a future area of potential dynamic short term support going forwards.

Targets are to the 03 Sep 2020 high of 2.46. Beyond 2.46, CAT has little in the way of key price action-based static resistance points to impede upside progress. Note however, static support will likely be ecountered at the 3.00 round number.

Traders may wish to buy at the static and dynamic support zones with stops set below these levels. If this cannot be achieved, then traders may have to consider buying on a breach of today's high of 2.20.

 

Data#3 is in a short term uptrend, as evidenced by the 21 EMA located above the 34 EMA. The long term uptrend is well-defined, as evidenced by the 144 EMA located above the 233 EMA and with each EMA rising.

Static resistance will be encountered at the 03 Sep 2020 high of 6.56.

Static support will be encountered at the 15 Sep 2020 low of 5.52.

The dynamic short term support zone is defined by the 21-34 EMAs, projected between 5.80 and 5.90. The price has been consistently rebounding higher out of the short term dynamic support zone since the short term uptrend began in April. This highlights the importance of this zone as a future area of potential dynamic short term support going forwards.

Targets are to the 03 Sep 2020 high of 6.56. Beyond 6.56, DTL is at all-time highs, and therefore targets are open ended. Note however, static support will likely be ecountered at the 8.00 round number.

Traders may wish to buy at the static and dynamic support zones with stops set below these levels. If this cannot be achieved, then traders may have to consider buying on a breach of today's high of 6.10.

 

Lifestyle Communities is in a well-defined short term uptrend, as evidenced by the 21 EMA located above the 34 EMA and with each EMA rising. The long term uptrend is also well-defined, as evidenced by the 144 EMA located above the 233 EMA and with each EMA rising.

Static resistance will be encountered at the 17 Sep 2020 high of 10.12.

Static support will be encountered at the 22 Jun 2020 high of 9.85, the 01 Sep 2020 high of 9.72, and then at the 09 Sep 2020 low of 8.96.

The dynamic short term support zone is defined by the 21-34 EMAs, projected between 9.25 and 9.38. The price has been consistently rebounding higher out of the short term dynamic support zone since the short term uptrend began in August. This highlights the importance of this zone as a future area of potential dynamic short term support going forwards.

Beyond 10.12, LIC is at all-time highs, and therefore targets are open ended. Note however, static resistance will likely be ecountered at the 15.00 round number.

Traders may wish to buy at the static and dynamic support zones with stops set below these levels. If this cannot be achieved, then traders may have to consider buying on a breach of today's high of 10.18.

 

Mali Lithium is in a well-defined short term uptrend, as evidenced by the 21 EMA located above the 34 EMA and with each EMA rising. The long term uptrend is also well-defined, as evidenced by the 144 EMA located above the 233 EMA and with each EMA rising.

Static resistance will be encountered at the 01 Sep 2020 high of 0.220.

Static support will be encountered at the 15 Sep 2020 low of 0.150.

The dynamic short term support zone is defined by the 21-34 EMAs, projected between 0.155 and 0.160. The price has been consistently rebounding higher out of the short term dynamic support zone since the short term uptrend began in May. This highlights the importance of this zone as a future area of potential dynamic short term support going forwards.

Targets are to the 01 Sep 2020 high of 0.220. Beyond 0.220, MLL has little in the way of key price action-based static resistance points to impede upside progress. Note however, static resistance will likely be encountered at the 0.500 round number.

Traders may wish to buy at the static and dynamic support zones with stops set below these levels. If this cannot be achieved, then traders may have to consider buying on a breach of today's high of 0.165.

 

Megaport is in a short term uptrend, as evidenced by the 21 EMA located above the 34 EMA. The long term uptrend is well-defined, as evidenced by the 144 EMA located above the 233 EMA and with each EMA rising.

Static resistance will be encountered at the 27 Aug 2020 high of 17.67.

Static support will be encountered at the 17 Sep 2020 low of 15.21, and then at the 14 Sep 2020 low of 14.52.

Note that static support at 15.21 coincides with dynamic short term support expected to be encountered in the zone defined by the 21-34 EMAs, projected between 15.20 and 15.55. Whenever multiple support factors coincide, the market response at the zone defined by these factors tends to be stronger.

Targets are to the 27 Aug 2020 high of 17.67. Beyond 17.67, MP1 is at all-time highs, and therefore targets are open ended. Note however, static support will likely be ecountered at the 20.00 round number.

Traders may wish to buy at the static and dynamic support zones with stops set below these levels. If this cannot be achieved, then traders may have to consider buying on a breach of 15.92.

 

Newcrest Mining is in a short term downtrend, as evidenced by the 21 EMA located below the 34 EMA. The long term uptrend is well-defined, as evidenced by the 144 EMA located above the 233 EMA and with each EMA rising.

Static resistance will be encountered at the 28 Jul 2020 high of 38.15.

Static support will be encountered at the 17 Sep 2020 low of 32.33, the 10 Sep 2020 high of 32.00, and then at the 07 Sep 2020 low of 30.55.

The dynamic short term resistance zone is defined by the 21-34 EMAs, projected between 32.45 and 32.65. The key issue now, is that the price is currently trading above this zone. If this situation continues, the zone may well switch from offering dynamic short term resistance to offering dynamic short term support.

The dynamic long term support zone is defined by the 21-34 EMAs, projected between 30.85 and 31.60. The price has been consistently rebounding higher out of the long term dynamic support zone since the long term uptrend began in May. This highlights the importance of this zone as a future area of potential dynamic long term support going forwards.

Targets are to the 28 Jul 2020 high of 38.15. Beyond 38.15, NCM has little in the way of key price action-based static resistance points to impede upside progress. Note however, static support will likely be ecountered at the 40.00 round number.

Traders may wish to buy at the static and dynamic support zones with stops set below these levels. If this cannot be achieved, then traders may have to consider buying on a breach of 33.32.

 

People Infrastructure is in a well-defined short term uptrend, as evidenced by the 21 EMA located above the 34 EMA and with each EMA rising. The long term trend is undefined, as evidenced the 144 EMA located below the 233 EMA but with each EMA rising. It is likely that these EMAs cross in the near future, therefore initiating a new long term uptrend.

Static resistance will be encountered at the 27 Aug 2020 high of 2.93, and then at the 14 Feb 2020 high of 4.08.

Static support will be encountered at the 17 Sep 2020 low of 2.77, the 11 Sep 2020 low of 2.66, and then at the 07 Sep 2020 low of 2.60.

Note that static support at 2.66 coincides with dynamic short term support expected to be encountered in the zone defined by the 21-34 EMAs, projected between 2.65 and 2.68. Whenever multiple support factors coincide, the market response at the zone defined by these factors tends to be stronger.

The dynamic long term support zone is defined by the 21-34 EMAs, projected between 2.37 and 2.45. The price has been consistently rebounding lower out of the long term dynamic resistance zone since the long term downtrend began in March. The key issue now, is that the price is currently trading above this zone. If this situation continues, the zone may well switch from offering dynamic long term resistance to offering dynamic long term support.

Targets are to the 14 Feb 2020 high of 4.08. Beyond 4.08, PPE is at all-time highs, and therefore targets are open ended. Note however, static resistance will likely be ecountered at the 5.00 round number.

Traders may wish to buy at the static and dynamic support zones with stops set below these levels. If this cannot be achieved, then traders may have to consider buying on a breach of 2.93.