We have entered a long position on JSE:WHL based off of the turning of the stochastic and MACD as well as the crossing of the 3 and 15 EMAs. The target for this trade is the 63.50 level which coincides with the highs from September 2021.
We have entered a long position on JSE:REM based off of the turning of the stochastic and MACD as well as the crossing of the 3 and 15 EMAs. The target for this trade is the 154 level which coincides with the highs from March 2022.
We have entered a long position on JSE:CPI based off of the turning of the stochastic and MACD as well as the crossing of the 3 and 15 EMAs. The target for this trade is the 230 level.
An upward trendline ahs been broken on JSE:NPN as well as the stochastic and MACD both turning downwards. This could mean that we could be seeing a downward move if it breaks lower. Be cautious, though, as the markets have been extremely volatile lately.
The Stochastic, MACD and the 3 and 15EMA's have all crossed downwards on JSE:BTI which are all good indications of a possible short position. If it breaks lower than the opening of this morning, I will enter short.
A very large engulfing candle has formed on JSE:NPH . It has engulfed at least the last 6 candles which makes it a stronger signal. So I think we can expect an upward move from here.
A Harami candle pattern has formed on a support level on JSE:WHL . This candle pattern potentially indicates a reversal, so we could see a move to the upside from here.
A short has been entered on JSE:SBK based off of our momentum indicators. We are aiming for a target at around 12300 or adjusting the stop loss accordingly as the trade moves downwards.
A bullish engulfing candle formed on JSE:REM with yesterday's price movement and a long position was triggered today. we are looking at a target around the R153.50 level.
The JSE ALL SHARE 40 seems to be forming two bearish patterns.
1. An Inverse Cup and Handle where the price is about to break below the brim level sending it down.
2. Bearish pennant which is tricking many traders into a bull trap.
I may be wrong and this might be the bottom but in my 2 decade career, I've learnt to go with the trend until it confirms an end....
A head and shoulders pattern has formed on JSE:CFR . The neckline is ascended slightly, but I think it has a fair chance of playing out. The target is down at the R89 level.
JSE:AGL has triggered a long position with today's movement. The stochastic, MACD and moving averages have all crossed upwards, signaling the upward momentum.
