Technical Analysis 28th June 2018

Today on Technical Analysis…
We take a look at three stocks within the Australian Listed companies space, the first ASX listed Qube Holdings the marine port and freight logistics operator has entered the BUY ZONE.

Our second company, is ASX listed Independence Group, first reviewed in August 2017 having met the original price target, now provides a second BUY ZONE entry.

And our international stock today is NASDAQ listed Becton Dickinson medical technology supplier now provides the Buy Zone entry in an ongoing Primary Trend.

Qube Holdings Limited

Qube Holdings Limited is an Australian-based logistics and infrastructure company. The principal activities of the Company consist of logistics solutions across various aspects of the import-export supply chain, and the management and development of strategic properties into inland rail terminals, bulk terminals and related logistics facilities.

Its segments include Logistics, relating to the import and export of containerized cargo; Ports & Bulk, which consists of port and bulk logistics offering customers a logistics solution from mine-to-ship covering various activities, such as transport, stockpile management, ship loading facilities and stevedoring.

Moorebank Industrial Property Trust, is part of the company assets. The Weekly chart of QUB holdings shows a significant consolidation pattern in a large pennant from Q1 2015 to the current Q3 2018.

The signal from the Bollinger Band overlay has now set the BUY ZONE entry. During Q2 the price retracement moved outside of the Lower Bollinger Band to the lower pattern line the following price movement higher has now set a higher low inside the Bollinger bands with a further breakout higher into the BUY ZONE. This highlights a positive change in price volatility.

The price target is established at $3.60 on a further breakout of price. The Relative strength Indicator 14 has moved over the 50 level indicating positive price momentum. The important Stop loss is set at $2.26 as this would show a breakdown of price below support.

Independence Group NL

Independence Group NL is an Australia-based company, which is engaged in non-operator gold mining from the Company’s interests in the Tropicana Gold Mine, nickel mining at the Long Operation, zinc and by-product mining at the Jaguar Operations, development of the Nova Project and ongoing mineral exploration.

The Company’s segments include the Tropicana Operation, the Long Operation, the Jaguar Operation, the Nova Project, Independence group weekly chart displays a long term down trend from mid Q4 2016 during August 2017 Independence Group provided the first Buy Zone entry with the price target met during Q4 2017.

Currently a widening volatility pattern has established the support level at $4.60 with the three low pattern shown 1,2,3 is now complete at the higher low with a second higher low establishing the BUY ZONE entry.

The Slow Stochastic has provided a buy signal confirmed by price momentum shown with the Relative strength Indicator 14 remaining above the key “50” level.

The Stop loss is set at $4.80, price movement to this level would indicate a break of the current tentative trend line and be reflective of price weakness.
The Primary trend is UP with a further price target of $6.27 established in this ongoing trend.

Becton, Dickinson and Company

Becton, Dickinson and Company is a global medical technology company engaged in the development, manufacture and sale of a range of medical supplies, devices, laboratory equipment and diagnostic products.

BD Medical consists of various business units, including diabetes care, medication and procedural solutions, medication management solutions and pharmaceutical systems.

The BD Life Sciences segment provides products for the safe collection and transport of diagnostics specimens, and instruments and reagent systems to detect a range of infectious diseases, infections and pre-analytical diagnostics.

Technical Analysis highlighted the BDX – BUY- Zone entry in January 2016 with the price target met shortly afterwards.
Following the Buy Zone entry of 2016 the chart shows a significant Primary trend moved the price into a volatile high with the retracement price movement forming a complete Diamond Volatility pattern in the accelerating trend channel.

Within this pattern the recent price movements have formed a higher low and recently price moved outside of the pattern setting the current BUY ZONE entry, based on the current Primary Up trend a further price target of $172.00 is set with a Stop loss also set at $221.90.
In the event of trend failure the important STOP Loss is to protect capital.

Leave a Reply

Your email address will not be published. Required fields are marked *