At the start of each week we consider potential trading opportunities, specifically geared toward the active, short term trader, but not limited to insights relating to medium & long term opportunities. My research, to a lesser degree, also includes strategy charts (macro), other global equities/FX data as well as relative sector/commodity charts to support asset allocation ideas.
The attached charts are update from my Active Trading Plan for the trading week commencing 12 July. For NHM and AGL, I included both swing and day plans. For NHM, the day plan triggered, with strong follow-through in the subsequent sessions. For AGL, the price traded into the accumulation zone and tested the target range during Wednesday and Thursday's session.
Original comments as per the report. To be read clockwise.
1. Vodacom Group (VOD, 12818c) | POTENTIAL break of this tight trading range if a print occurs above the prior 3-day range highs around 12836c, to trigger an upside break of the ultra short term consolidation range. Target 13170-13250c. Note the positive divergence as per the 7-day RSI. Stop: 12665c.
2.1 Anglo American Plc (AGL, 58798c) | Swing Plan | The 2-month downward trend line is in focus, which if breached, portends further upside toward the 61000c/61400c area.
2.2 Anglo American Plc (AGL, 58798c) | DayPlan | It’s possible that the price retraces to the mid-point of the prior day candle, which is in line wit the 8-day EMA. Look for support here (57800c/58100c) to buy up to the 59100/59300c area.
Follow-up as at Thursday 15/07: AGL traded into my preferred accumulation zone and into the target of 610-614 before pulling back today.
3.1 Northam Platinum (NHM, 21718c) | Swing Plan | For now, and following a gradual multi-day advance, negative price action suggesting some sellers have returned. Traders could look to be a buyer in the range of 20740c to 20950c, which is the swing in place from 17 -22 June.
3.2 Northam Platinum (NHM, 21718c) | Day Plan | Platinum was stronger on Friday. Intraday, buy on strong bids above the 21860c.
4. Bid Corp (BID) Provisional Trading Plan -Originally Published Intraday on Friday 09 July at 32743c. The share has surpassed our buy/long target range of 31200c to 32000c from the suggested entry of 29300c, having traded at an all-time high 32749c during Friday's trading session. While the price remains in an active sequence above a rising 8 and 21 day EMA, the 7-day RSI is strong but nearing 'near overbought' territory. Having advanced from a low of 27169c on 13 May to Friday's high, we question whether the short term trend is becoming overextended and whether there is an opportunity for tactical short sellers? Consider the following (only applicable early in this coming week), the share may trade above Friday's high however, if the high does not hold then it may create a tactical short/sell down to the 31300c/31600c range.
5. Quilter Plc -Trade Idea: Buy/Long. With global markets at or near record highs, asset managers should be considered beneficiaries of the environment, with their capital-light business models supporting profitability. Having traded in a downward trend for just over 3 months, QLT is possibly attempting to turn the (technical) corner. Key Drivers: 9th attempt to breach downward trend line extending back to the peak of 01 April. 7-day RSI transitioning from neutral to bullish , with positive divergence and downward trend line breakout. Price attempting to break it's prior 6-day trading range. Buy at current levels (2972c) or better. Stop-loss: 2825c Target Range: 3260c-3360c
6. Aspen Pharmacare (APN, 16808c) | Initial buy in April at 147.14. The price action and structure for the share appears to be improving with a possible ‘next leg up’ as the price tests the upper boundary of a 2-month consolidation range.Confirmed on a close +17160c. Stop: 16520c.
The ideas published are normally part of a larger watch-list. For more of these trading ideas, insights and opportunities, get in touch today.
The attached charts are update from my Active Trading Plan for the trading week commencing 12 July. For NHM and AGL, I included both swing and day plans. For NHM, the day plan triggered, with strong follow-through in the subsequent sessions. For AGL, the price traded into the accumulation zone and tested the target range during Wednesday and Thursday's session.
Original comments as per the report. To be read clockwise.
1. Vodacom Group (VOD, 12818c) | POTENTIAL break of this tight trading range if a print occurs above the prior 3-day range highs around 12836c, to trigger an upside break of the ultra short term consolidation range. Target 13170-13250c. Note the positive divergence as per the 7-day RSI. Stop: 12665c.
2.1 Anglo American Plc (AGL, 58798c) | Swing Plan | The 2-month downward trend line is in focus, which if breached, portends further upside toward the 61000c/61400c area.
2.2 Anglo American Plc (AGL, 58798c) | DayPlan | It’s possible that the price retraces to the mid-point of the prior day candle, which is in line wit the 8-day EMA. Look for support here (57800c/58100c) to buy up to the 59100/59300c area.
Follow-up as at Thursday 15/07: AGL traded into my preferred accumulation zone and into the target of 610-614 before pulling back today.
3.1 Northam Platinum (NHM, 21718c) | Swing Plan | For now, and following a gradual multi-day advance, negative price action suggesting some sellers have returned. Traders could look to be a buyer in the range of 20740c to 20950c, which is the swing in place from 17 -22 June.
3.2 Northam Platinum (NHM, 21718c) | Day Plan | Platinum was stronger on Friday. Intraday, buy on strong bids above the 21860c.
4. Bid Corp (BID) Provisional Trading Plan -Originally Published Intraday on Friday 09 July at 32743c. The share has surpassed our buy/long target range of 31200c to 32000c from the suggested entry of 29300c, having traded at an all-time high 32749c during Friday's trading session. While the price remains in an active sequence above a rising 8 and 21 day EMA, the 7-day RSI is strong but nearing 'near overbought' territory. Having advanced from a low of 27169c on 13 May to Friday's high, we question whether the short term trend is becoming overextended and whether there is an opportunity for tactical short sellers? Consider the following (only applicable early in this coming week), the share may trade above Friday's high however, if the high does not hold then it may create a tactical short/sell down to the 31300c/31600c range.
5. Quilter Plc -Trade Idea: Buy/Long. With global markets at or near record highs, asset managers should be considered beneficiaries of the environment, with their capital-light business models supporting profitability. Having traded in a downward trend for just over 3 months, QLT is possibly attempting to turn the (technical) corner. Key Drivers: 9th attempt to breach downward trend line extending back to the peak of 01 April. 7-day RSI transitioning from neutral to bullish , with positive divergence and downward trend line breakout. Price attempting to break it's prior 6-day trading range. Buy at current levels (2972c) or better. Stop-loss: 2825c Target Range: 3260c-3360c
6. Aspen Pharmacare (APN, 16808c) | Initial buy in April at 147.14. The price action and structure for the share appears to be improving with a possible ‘next leg up’ as the price tests the upper boundary of a 2-month consolidation range.Confirmed on a close +17160c. Stop: 16520c.
The ideas published are normally part of a larger watch-list. For more of these trading ideas, insights and opportunities, get in touch today.
