Loyiso_BlaqueSoros_Mpeta

Loyiso_BlaqueSoros_Mpeta

Glencore has had a sterling run from the March 2020 bottom at R22,54. The bull run ran out of steam at R105,94 and is currently trading in a sideways consolidation. From an Elliott Wave perspective, sideways consolidations are normally triangles, especially in a fourth wave position after a strong third wave. The key level to watch is R79,20 and a break below this...

Loyiso_BlaqueSoros_Mpeta

Take a look at the fundamentals before diving into this one on technicals. Recent developments include: 1) potential major buyer/investor pulls out of the deal which led to the big share price crash. 2) Interim results showed good growth on HEPS, Revenue and Operating Profit. 3) CEO to retire at the end of September 2022. Technically, a long-term bottom seems to...

Loyiso_BlaqueSoros_Mpeta

The $99 region seems to be a barrier the bulls cannot breach. Key support comes in at $71.78, the March 2020 low. The Double Top or Flat correction will be decided by how price reacts at the $70 zone. Short positions should use a stop-loss at $94.23, the wave (2) high.

Loyiso_BlaqueSoros_Mpeta

From the March 2020 bottom at $40.04, the recovery qualifies to be labelled as a Leading Diagonal. Leading Diagonals are found in wave 1 or wave A of impulses and zig zag corrections respectively. In this scenario, the correction from $111.28 should terminate above $40.04. The correction seems to be unfolding as an ABC zigzag. Using the Fibonacci extension...

Loyiso_BlaqueSoros_Mpeta

Since the peak in January 2022, GBPAUD has seen a strong decline. All declines have to correct at some point and this is where the EWP gives us a good road map. The decline has unfolded in a textbook impulse wave labelled wave (1) to (5). In textbook fashion, wave (3) is extended and is the longest wave, wave (4) is a triangle and the final wave (5) and ending...

Loyiso_BlaqueSoros_Mpeta

If ever there was a textbook example of a 5 wave impulse, this is it. The beauty of the EWP is that one can use it for macro and micro forecasting. Here, i look at the monthly chart of ALGN and one can see since listing, a textbook 5 wave advance from the 2002 low to the peak in 2022, make that a 20 year bull market. What is even more interesting is that the big...

Loyiso_BlaqueSoros_Mpeta

Mondi's share price is still clearly under pressure. The decline from the all time high of R430,05 appears to be unfolding in a textbook impulse pattern. Wave 4 closed below R352,74 and the current decline is for the 5th and final wave down. The first support zone of interest is the previous reversal area at R230,15. I do not believe now is a good time to short...

Loyiso_BlaqueSoros_Mpeta

Like many stocks that bottomed in March 2020 after the Covid-19 sell-off, MRP made a strong recovery and peaked in August 2021 at R242,25. The advance from R98,20 to R242,25 unfolded in a complex five wave pattern (1) to (5) which is either wave or of one larger degree. The pullback which has a current bottom at R164,55 looks corrective in nature and is well...

Loyiso_BlaqueSoros_Mpeta

Since reaching an all time high of R262.93 in March 2022, the share price of Gold Fields has retraced more than 40%. The retracement appear to be unfolding in five waves with the sideways movement from June 2022 fitting the triangle pattern profile. Triangles are found in wave 4 of impulses and this implies that GFI is in its final wave down to complete the five...

Loyiso_BlaqueSoros_Mpeta

Currencies are know for being cyclical, EURUSD is no different. There has been much hype about he recent parity and eurusd trading below 1.0000 to the dollar. What goes down must come up at some point. The decline has been strong and extended from an Elliott Wave perspective but my preferred count suggests a bottom is near. There are a lot of extensions within...

Loyiso_BlaqueSoros_Mpeta

CLH made an all time low in November 2020 and bottomed at R2,22 per share. Amidst covid-19 uncertainties, travel restrictions and registering operational losses, the share price gradually made its way to a peak a year later at R6,50. The advance, with overlapping 5 waves, is a textbook leading diagonal which is bullish base for further upside. The leading diagonal...

Loyiso_BlaqueSoros_Mpeta Updated 

Since peaking in February 2018 at 22700 zac, SPAR has retraced 40% but is hitting a critical support zone. From an Elliott Wave perspective, the decline from the all-time high to the March 2020 covid-19 sell-off low at 14225 zac unfolded as an ABC zigzag for wave (A). Wave (B) made a deep 88.6% Fibonacci retracement to peak at 21347 zac. The current sell-off from...