Stocks had a little flash crash that was immediately bought back up. Currently, the S&P is sitting at highs. After a crash like that it was lucky to get bought back to highs let alone break out again. The Kovach OBV has run out of steam and is flat at current levels. This is not a divergence quite yet, but it does suggest stocks should at least range a bit...
Consolidating under prior resistance for 5 days with a huge wick above the supply zone and a close below. Target last major support around $90.
Stocks are ranging between 3825 and 3867. These are both levels identified by us, in addition to the ranging. Since it is Monday, we are unlikely to see any significant moves, so anticipate the ranging to continue, but we will know more details towards the open. The next target is 3887. We should easily hit this with another burst of momentum. If we retrace,...
Correction is coming to OSEBX. RSI and MACD has formed a divergent to the price.
As we told you yesterday in the reports, stocks retraced to 3825. This is a strong level of support. Both Kovach Momentum indicators are solidly bearish, leading us to think the pendulum may swing back soon. Additionally there is a cluster of green triangles on the Kovach Reversals indicating that we are seeing some candlestick reversal patterns. If we do see...
As you all are undoubtedly aware, stocks made new highs yesterday. They met resistance exactly at 3856, the level we called out for weeks. Finally they inched past this level to 3867, where they are currently facing resistance. Almost certainly they will break out higher. They could range to feel out this new price territory first, however, so don't get too...
Stocks bounced pretty hard off lower levels, but are still having issues making new highs. The level 3758 provided support as we said it would. We blasted through the next level 3792, which provided little resistance. It will provide support now. We should expect more resistance at all time highs. It will take a lot of momentum to break through and establish...
All notes on chart. Simple setup
Large inverted head and shoulders building. Watch for a 172 neckline break for levels 244 and 278 to come into play.
Anglo gold has been moving in a downtrend in tandem with the Gold price. Currently it looks like it's building a bear flag. If this bear flag breaks to the downside, 26700 could become a target. Cautions approach for new longs on this one. A downtrend break would happen in tandem with the gold price that will break out of it's down channel. Keep an open mind on...
Naspers is trading in a defined channel with an uptrend. It has now reached the top of the channel once again. It would be interesting to see what happens at the 345000 level, but my suspicion is that resistance will hold and we will move down to test the bottom of this channel once again around the 300000 level. The all share index of which NPN forms a large...
Stocks dipped, but nowhere near to the extent we were anticipating. A 'healthy' correction would put us at 3758 or 3737. All we got was 3792. We still anticipate stocks to break out to achieve new highs sometime soon, perhaps even today. Though we are below 3792 at this point and this will provide resistance. The Kovach OBV is inching up, suggesting that we...
The S&P dipped, but not nearly as much as we anticipated. It is still holding the range 3792 to 3825. This is a very narrow range for stocks and we anticipate a breakout today either way. A breakout to the downside seems a lot more likely, since the Kovach OBV is not registering much momentum. If so, consider 3758 or even 3737 to buy back. However, it is...
Lewis seems to be consolidating in what looks like a bullish flag. Support at 2200, and resistance at 2500. Watch for a break of 2500 for 2700 and 3050 targets to come into play.
After a very good run through Nov 2020, it has been stuck in a consolidation zone between 2650 and 3050. If the upper levels of that consolidation zone is breached at 3050 and momentum is maintained, we could see a target of 3650. Wait for the break. No position.
Bidvest seems to be stuck in a channel between 13000 and 17100. It looks like a bull flag is developing within that channel. Watch for a break of the flag pattern and then a break of the 17100 level. Once that 17100 level is breached and momentum can keep it above that level, a 18600 target is possible. Wait for the break of 17100 . No position.
I think RIOT needs to correct a little before it can continue rising within the formed trend channel on the daily charts. RSI still looks overbought. This stock obviously reacts to BTC Price movements, but it's sometimes delayed. Short term dip, with an entry price target of about $21.40, then long from there, given bitcoin continues it's bull run. If there's...