Alcoa Weekly Review
Wave Analysis
After hiting the lows of 10.70, the shares of this company has been rising. Currently, the price is rallying within a contracting wedge formation. And while the price is contained within this shape formation, I'm waiting for a bounce from the upper trendline to pick a sell and a bounce from the lower trendline to pick a buy. Basically, As it is on the 4 hours chart, I'm expecting a possible continutinuation of the impulsive wave (c) to the upperside and should first break above the previous week's highest but should not go above the upper trendline.
Trade Recommendations:
Buy Alcoa shares towards the upper trendline.
ASX weekly review
Wave Analysis:
After a slight correction few months ago, this index has been on the gaining end. During the previous week, the impulsive wave (iii) continued massively to the upper side and is still very much bullish both on the daily and on the weekly charts. According to the daily chart attached, I'm patiently waiting for a break above the previous week's highest high to pick a long term buy order towards 6945.8. However, on the flip side, should the price bounce off from the previous week's highest high, then this will give us an opportunity to look for a sell.
Trade Recommendations:
Waiting for a break above the previous week's highest high to pick along term buy order.
Barclays Bank Weekly Review
Wave Analysis
August last year, Barclays bank shares dropped below the zone 9.25-.8.24, continued even lower but has currently Pulled back to the same zone. As long as the price remains below this zone, we still expect further decline but should not go beyond 6.60. And on this flip side, should the price break and close above 8.24, then we'll wait for another break above 9.25 to confirm that we're continuing to the upper side with the next ideal target at 12.60, a break above this level could the price even higher.
Trade Recommendations:
Waiting for a possible sell.
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