We suspect Suncorp ((SUN)) has achieved our short term upside break target as well as completing a five count which improves the odds for a pull back from 13.25 to 12.50-12.60 over the next week or so.<\/p>\n
A move below 12.90-12.95 should get the ball rolling however given timing considerations enough work has been done to warrant opening shorts around 13.05.<\/p>\n
The move needs to occur over the next few days otherwise we will reassess our view.<\/p>\n
Trading tactics<\/strong><\/p>\n Open shorts at 13.05 placing stop at 13.30 looking for a move to 12.50.<\/p>\n Otherwise wait for a break below 12.90-95 before opening shorts and placing stops at 13.20.<\/p>\n <\/p>\n Another trading idea from<\/strong><\/p>\n Fifth Wave |<\/strong> fwtc.com.au<\/strong><\/a> <\/p>\n FW generates over 150 Trading Alerts on the ASX100 each year. We are a subscription service specialising in short term technical strategies based on 27years experience<\/strong>.<\/strong><\/p>\n AFSL 319830 |<\/strong> Disclaimer<\/strong><\/a><\/p>\n Reprinted with permission of the publisher.<\/em> Content included in this article is not by association the view of FNArena (see our disclaimer<\/a>).<\/em><\/p>\n Technical limitations <\/strong><\/em><\/p>\n If you are reading this story through a third party distribution channel and you cannot see charts included, we apologise, but technical limitations are to blame.<\/strong><\/em><\/p>\n![\"\"](\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/ffsun.jpg\")
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