JSE:CPI is showing signs that it may retrace downwards for a bit before continuing up. The MACD and Stochastic are both showing downward momentum and if it trades lower than today, the EMA's will confirm a downward cross. Keep an eye on this one for a possible short move to around the 200 SMA support level.
JSE:CLS has reached a level of resistance and is showing some downward momentum. The stochastic and MACD has both crossed downwards and the 2 EMA's have confirmed this momentum. I will look to go short if it trades lower.
JSE:OMU has found some resistance at the 200 Moving Average and could be heading for a downward move. The stochastic and the MACD are both starting to confirm this downward momentum.
A double top has formed on JSE:AGL . I'll keep an eye on this for one for a break below 43000. If it confirms, we could be looking at a downward move for a short position.
JSE:CFR seems to be struggling at a resistance level that it has traded at in August 2018 and November 2017. If it doesn't break through this level and creates lower lows, we can possibly be looking at a short position with a target at the gap from 5 November.
A large Head & Shoulders has formed on JSE:VOD at quite a significant support level. If it breaks through the neckline which falls on the support level, we could see a move downwards towards the lows from mid-March.
Apart from the double top that has formed, a massive bearish engulfing candle appeared yesterday with very strong downward momentum. If it continues down lower than the low of yesterday's engulfing, I will consider a short position with a target at the close of the gap from the 8th of September.
JSE:BID has had some good bullish momentum for the month of November so far, but when it reached the significant resistance level around 28100 it failed to break higher and is showing signs of a turnaround for a downward move. If it breaks through the 200 SMA and confirms by a break below the lows of 10 Nov, I will consider entering a short position.
JSE:ANG has formed a massive Head and Shoulders chart pattern starting all the way back in April 2020. The right shoulder is not very big in relation to the left shoulder, and the uptrend leading up to the formation wasn't extremely significant, so I wouldn't be surprised if it doesn't make it all the way to it's target but I think we could definitely see a...
JSE:ABG has been trading in an upward channel since July and it seems to have found some resistance at the top of the channel. If it trades lower and fails to break through the top, I will consider a small short towards the bottom of the channel.
JSE:REM has been trading in a consolidation since July. It is currently around the top of the consolidation area and is showing some signs of upward momentum. If it breaks out through the top, we could see a bit of an upward move - possibly even going up high enough to fill the gap from the 3rd of June. I am waiting for a confirmation of an upward breakout before...
JSE:MTN is looking good for a long position if it breaks higher than yesterday's price action. The stochastic as well as the MACD are both showing buy signals. I'm going to wait for confirmation above yesterday's levels before entering long.
JSE:GFI has formed a falling wedge pattern and has broken out of the top 3 days ago. If it continues up, I will consider a long.
JSE:MCG has been on a great bull run since mid-September but it looks like it might be turning down soon. It is currently consolidating at a previous resistance level. If it breaks lower out of the triangle pattern it is currently in, I will consider short.
A Head and Shoulders pattern has formed on JSE:DSY and we could be seeing a nice downward move all the way to the support level at the 10200 if level if it confirms a break through the neckline of the pattern.
JSE:DSY seems to be on its way up after the down move of the Head & Shoulders pattern. It didnt quite reach the target, but instead found resistance on the 200 moving average. If it continues through the neckline upwards and uses it as support, I will go long.
The Head & Shoulders that was alerted a few weeks ago played out quite nicely, but didn't quite reach it's target. At it's bottom, it formed a bullish engulfing candle pattern which is an upward move signal. The stochastic and MACD are confirming an up, so if it breaks today's high, I will enter long.
JSE:BHP has formed a Head and Shoulders pattern and has broken through the neckline on its way downwards. If the pattern plays out, we could see a move down to the target at around the 28900 level