JSE:OMU has broken through a fractal and is continuing upwards with strong momentum.
Along with this, the stochastic and the MACD have both turned up and the EMA's are crossing which are all signals to go long on our trend-following momentum strategy.
JSE:AMS has broken through an ascending support line and formed a bearish harami pattern.
We will be looking at a short position, but be aware of the support level around 73000 as it might stall there for a while before finding direction again.
JSE:VOD has broken through the top of a sideways channel that it has been trading in since the 24th of Jan. It has broken out and confirmed the upward move by closing out of the channel twice.
There is also a gap that will most likely close. Just beware that it might find some resistance at gap close.
JSE:DSY has broken out of a symmetrical triangle in conjunction with a break out of a descending resistance line.
There is also a fractal that has formed on the top of the candle of the 30th of May.
If it breaks through this level of the fractal, I will consider a long position.
JSE:CPI formed a piercing line pattern with Friday's close which is a bottom reversal signal.
After a preceding downtrend, the green candle opens below the previous day's close and above the middle point of the red real body. It is a bottom reversal signal, but the candles MUST be different colours.
JSE:MND was trading in a downward channel for quite some time and we were expecting a continuation down the channel.
It has recently turned and has broken out the top of the channel.
We are now looking at an upward move similar to what is happening on JSE:MND
JSE:MND has broken through a descending resistance and a fractal which is a good sign for a long move. On top of this, there was recently a bullish engulfing candle which is a further sign of an upward move.