ASX Traders Report January 12th Australia

Alumina (AWC)

This chart was shown in my blog on January 5th indicating a breakout from the flag was imminent. The chart below shows the breakout was successful.

Alumina (AWC)

Magellan Fin Group (MFG)

This was another share mentioned in the January 5th report suggesting that a a breakout from the pennant was a possibility. On Friday there was a clear bullish breakout on good volume. My trigger signal for an entry has been achieved. I’ll be on the look out for an entry on Monday trading.