In today’s briefing:
- USD Divisions – AUD Bearish
- Samsung Electronics (005930 KS) – Bullish LT Uptrend Confirmation in Q1 2023 Implies 15-25% Upside
USD Divisions – AUD Bearish
- AUD and NZD bear patterns stand out versus the Euro’s rebound which is at the top end of the range as the DXY finds a foothold at 102/101.
- Sterling met our 1.24 rally objective where we reversed to short. USD/JPY rise from 130 reaching for 134. USD/ZAR near our buy zone.
- Yield basing needed to support any sort of meaningful USD rise (DXY 104 near resistance) but there are tradable patterns to work with. USD shows a firmer tone in Asia.
Samsung Electronics (005930 KS) – Bullish LT Uptrend Confirmation in Q1 2023 Implies 15-25% Upside
- At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. •1) Response to key levels. •2) Price action. •3) Momentum confirmation.
- LT RSI’s typically maintain a 40-80 range in sustainable uptrends and a 20-60 range in sustainable downtrends. Quarterly RSI has maintained a 45-85 range since 2001 (LT uptrend bias).
- The material correction of 2021/2022 has produced a high probability confirmation of a renewed LT uptrend (quarterly Morning Star pattern). Minimum target range at 74300/79610 (+15-25%) in the coming year.
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