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Northern Star Resources (ASX:NST) – POSITIVE

After gapping higher at the end of August, the NST share price managed to hold onto levels above $8. It has now become clear that price action in the last two weeks has been a short term consolidation in the form of a symmetrical triangle (indicated by the diagonal blue lines). Volume was also decreasing on the way through, which is what you want to see. NST has now broken out of this triangle and is due to rally higher. The stock is trading at an all-time high so we don’t have any technical targets at this stage.

nearest resistance N/A, nearest support ~$8

NST daily chart

Santos (ASX:STO) – POSITIVE

The STO share price jumped higher in April this year on the back of a takeover approach. After that fell through several weeks later, the share price managed to hold up well, forming an ascending triangle. At the end of August, we saw the stock break free of this triangle. After then easing back for a couple of weeks to retest the breakout, we now see STO on the move again, pushing to a new 3 year high. All of this price action is bullish and current levels still represent a buying opportunity. We expect resistance to kick in near the 2015 high around $8 and then higher up near $8.80 to fill a gap created back in 2014.

nearest resistance ~$8, nearest support ~$6.50

STO weekly chart

South 32 (ASX:S32) – POSITIVE

After making a new high in May, we can see a very corrective decline then took place with S32 forming a flag. After testing the lows earlier this year, S32 then broke above the flag formation (circled). It is now highly likely that S32 continues the longer term uptrend and therefore should go on to trade to a new high in the next several weeks.

nearest resistance ~$4, nearest support ~$3.20

S32 weekly chart

Costa Group (ASX:CGC) – NEUTRAL

After dropping on the day of their results, CGC shares continued to trade lower. It now looks like they are finding support within the gap created back in February (indicated by the horizontal lines). A low seems to be rounding out here on the daily chart so this perhaps an early sign that CGC shares will move higher from here. Ideally we would need to see the stock push past $7 to feel more confident that a recovery is underway.

nearest resistance ~$7, nearest support ~$6.23

Flexigroup (ASX:FXL) – NEUTRAL

At the moment, FXL is in the middle of no-man’s land. It looks like an inverse head and shoulders signified a low in the share price (circled). It then pushed above the neckline in April, only to meet some trend-line resistance near $2.30. We saw a successful retest of the neckline in August but now it is hard to say what direction the share price will take from here. Support is back near $1.80 and resistance remains near $2.30. Investors should therefore consider buying on a retest of support, or wait for a break through $2.30 as a confirmation that the price will head higher.

nearest resistance ~$2.30, nearest support ~$1.80

Tassal Group (ASX:TGR) – NEUTRAL

For the last three years, TGR has been range bound between about $3.50 and the high $4’s. In the last few weeks it has tested resistance and fallen back again. We are likely to see it ease back in the short term with minor support near $4. A breach of that could see it head towards $3.50 again. Investors can therefore wait for cheaper levels. Alternatively, a clear break through resistance near about $4.60 would indicate a movement out of the range and that would result in a swift rally to new highs.

nearest resistance ~$4.60, nearest support ~$4