CBA - Commonwealth Bank (ASX)

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Commonwealth Bank (CBA) has retraced 61.8% Fibonacci back onto good support and has since rallied to settle above the descending trendline. A break of $50.15 would project a swing high target of $54.35 - $55.90

QMT - QM Technologies (ASX)

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QMT has developed a nice consolidation and resistance platform from which to launch a good move. A break of $3.34 should project a price of $3.80 - $4.09.

NWS - News Corporation (ASX)

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News corporation (NWS) has retraced 61.8% Fibonacci onto good support (Blue line). With both the MACD and Stochastics crossing to give a buy signal in the oversold territory a break of $30.50 would project a target range of $33.70 - $34.60.

CSM - Consolidated Minerals (ASX)

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Consolidated Mineral (CSM) is climbing along its ascending trend line (blue) in a sideways fashion building towards a directional breakout move. The last weeks tight price consolidation has alerted Chart Chat that this is likely to happen very soon. A break of $2.36 would project a target of $2.72 - $2.95.

MLE - Macquarie Leisure (ASX)

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MLE has retraced back onto the 200 DMA and 50% Fibonacci support cluster. After a month of tight consolidation and convergence of the 20 - 50 DMA a break of $2.96 would project a swing high target of $3.45 - $3.70.

CRG - Crane Group Limited (ASX)

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CRG has developed divergence with the MACD (red line) considered a bearish reversal indicator in this case. A break of $16.08 would trigger a short entry for a 61.8% Fibonacci reversal back onto support and 50 DMA around $14.65.

WME - West Australian Metals (ASX)

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WME has formed a large equilateral triangle and is at a point where a directional move is imminent. Equilateral triangles can produce false breaks only to reverse direction quickly so any trade should be accompanied by good risk and money management. Recent trading activity suggest the likely breakout direction will be up on a break of $0.185 for an initial target of $0.25 and may trade well beyond this point longer term.

DNL - Discovery Nickel (ASX)

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DNL broke through resistance (blue line) only to retrace in a 'ABC" corrective wave onto the 50% Fibonacci and 200 DMA support cluster. With the MACD and Stochastics developing a bullish relationship it would suggest that the correction may have completed. A break of $0.26 would project a swing high target of $0.38.

RML - Rusina Mining (ASX)

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RML has retraced back onto support having broken through its descending trend (Blue line). With a lift in volume suggesting increased buyer support and a bullish MACD/Stochastics relationship, a break of $0.225 would project a target range of $0.27 - $0.29.

GLN - Gleneagle FPO (ASX)

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GLN looks to be readying itself for a test of the descending trendline. With the MACD and Stochastics in a bullish relationship and having traded back down onto support (blue line) a break of $0.225 would project a swing high through resistance to $0.285 - $0.31

ANN - Ansell Limited (ASX)

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ANN has broken to new highs (blue line) and retraced back onto the 20 -50 DMA support setting up a good buy entry on a break of $11.86 for a projected swing high target between $12.73 - $13.25. ANN has a possible higher target of $14.00 but in the current market conditions it pays not to be too ambitious. With CFD's there is good reward in at potential 7% gain.