To The Moon

1/8/22 Breaking 📰: Technical Analysis of ASX200 Ahead of Earnings + Sharing my Investing Plans $TELSTRA CORPORATION LIMITED.(TLS.AU)$$TPG TELECOM LTD(TPG.AU)$

The ASX200 opened at 6945.2 & closed 0.69% higher🥳 at 6993.

Low: 6945.2

High: 6994.1

52W Low ➡️ 7624.8 on 20 June 2022

52W High ➡️ 6407 on 20 April 2022

The ASX200 has rallied 8.5% from its June 6409 low, to be testing a band of resistance at 6950/60 as of 29 July 2022. A sustained break above 6950/60 would negate the technical damage caused by the sell-off in June to paint a more positive picture, with scope towards the 200-day moving average at 7200.

⚠️RBA is due to release the next interest rate decision tomorrow, 2/8/22 (Tue), & economists are expecting another increase of 50 basis points (bps).

🤔💭 My thoughts: Considering the POV & actions of investors during the US earnings season & July rate hike, the ASX stocks are likely to follow the same trend as investors seemed to have priced in the 50bps hike. It appears that the sustained break above 6950/60 is likely to happen so ASX stocks are bullish 🐂 for now

📈📉 My investment plans for Aug:

(1) Offload as many of my profitable stocks that are not meant for dividends & long-term hold & buy back at a low in coming months.

(2) Shop for bargain stocks that will likely do well in recession.

⭐️ Top pick: Telecommunications-TLS & TPG $TELSTRA CORPORATION LIMITED.(TLS.AU)$$TPG TELECOM LTD(TPG.AU)$

Rationale ➡️ Minimally impacted by increasing inflation, oil & gas costs + gives dividends.

Fellow 🐯🐯🐯, do you also think telecommunication companies are 1 of the best holdings for the coming months? Please share your thoughts with me in the comments section, & please help to like my posts, many thanks 🤗

As usual-🤔💭 Consider POV & Actions of investors + 👩🏻‍💻👨🏻‍💻 Research + 🗑FOMO & Greed = Investing Wisely 🤓🤗 + Accumulating Wealth 💵💰

Source websites: CNBC & city index. 

@Daily_Discussion (1/8) @TigerStars@CaptainTiger@MillionaireTiger@ASX_Stars@Tiger_AU