Strong Down Channel continues with Purple Group.
There are no breakout patterns and now strong supports until we reach 40c and then 30c.
This is a no buying zone, despite how attractive the discounted value is.
End of the day, we need to wait for the break above the down channel, before bullishness shows.
Other indicators confirm downside momentum...
There has been a strong downtrend channel with Purple Group.
And if we follow the movement the next price target is to 75 cents...
No matter what the company does the price continues to drop.
It might be because it is a Penny Stock which is never seemed deemed as valuable to shareholders as blue chips.
There may be hidden issues within the books, micro and...
JSE:PPE just released unaudited results; the stock took a bit of (continuous) hammering. Previously, we anticipated R1.10 as the potential support level, the stock is currently trading at that level. Technically, it's a zone to pay attention to, in anticipation of a breakdown or for buyers to step up and push the price up. This week, it'll be a combination of the...
I gave out a stern warning about Capitec's overvalued price. I did say that this stock will be in a crazy nosedive very soon. Price has been falling from the R2 380 highs. We are now approaching the R1 500 zone which needs to be broken.
I'm loading Capitec shares very aggressively at these zones:
1. R550
2. R200
LOOK BEFORE YOU LEAP!!! INVEST WISELY!
the breakout on the channel we will see a new rally on the share price the test can continue further as indicated on the support that can be a good buy before the breakout
JSE:PPE had a nice upward rally at the beginning of June followed by a slightly downward consolidation period. Because of these moves, we have seen the formation of a bullish flag pattern. A bullish flag is a continuation pattern, therefore the expectation is that the price will continue upwards once the breakout has happened. So far this morning a breakout has...
>SASOL and the oil industry have recovered from the 2020 March oil crash
>Buyers of the March had massive gains and now by the looks have taken profits
>Selling off has begun with targets +R140
>130 to 157 Zar looks like a good zone where new buyers will come in
NYSE:UTZ
That's a truck load of bases; I like to buy my stocks on the 1st up to the 3rd base, anything above the 3rd base I consider it as more risky.
But I can't ignore the fact that the 50EMA is holding the price very well.
A buy at current levels with a stop at $24 can still offer a reasonable risk:reward.
Here we see KAL's descending channel breakout accompanied by an ABC correction. A little late on this one but aiming for the target at the previous high for a 70% estimated appreciation.
Good luck and follow me for more!
