Sibanye came back yesterday to test the channel break level. Time will tell if this is just a channel test or a break back into the channel.
Stocks got smashed, in an apparent channel breakdown. We mentioned that this may come due to the unwillingness of the S&P to break out of this pattern, and how it was hugging the lower bound of the channel, but unable to do much more than that. We have retraced about 50% of the channel height, which is a pretty good target. We hit 3617 and retraced to 3660. It...
After a few weeks of expansion, Sibanye broke out of the channel on Friday. Bullish looking and a target of 69-70 are on the cards. Stick to stop losses.
Stocks have edged upwards. They are ping ponging between the lower bound trend line of the channel pattern, and 3714, which is a very significant level. It has provided resistance in the past, now it provides support. Until the S&P can definitively break this trend line, we are skeptical of the rally. Avoid fomo at this point and aim for a good dip to enter. ...
Famous Brand was beaten down from 7000 levels to 2000 level on COVID news. Since then it has been on a upward trajectory with resistance around 5000 levels. Watch for a break of that 5000 level and a daily close above that level for a move to higher levels. Targets would be 5450, 6370 and eventually a reclaim of pre COVID levels. No position.
Brait was hit hard by COVID news and has been stuck in a channel for months now. That channel range is 258c to 429c. Keep an eye on the upper 430c level for a possible breakout in future. A breakout will open 600c as a possible target. No position.
We were spot on with our analysis in the S&P two days ago, where we predicted it would reject the lower bound of the channel, then make a run for it again. We didn't anticipate stocks to dip so low, but the overall behavior was correct. We did warn you to perhaps enter at lower levels. Current levels should provide enough resistance to see another dip before it...
Looks like we were right on the rejection in the S&P. We just were a little to aggressive on the buyback. We noted a strong level of support under the resistance formed by a technical level and the lower bound of the channel pattern. However, we had enough momentum to pierce 3676 (where we thought we'd have more support), and 3658. The S&P finally found...
looking for MTRX to hold support above 2.20, based on the past 3 trading sessions patterns i feel that it will hit near $2.40 in the AM.
Stocks caught a huge lift from risk on sentiment at the open. However they have extended about a full ATR, and are encroaching upon the lower bound of the channel that the S&P held for days. This is sure to provide at least some resistance, and may offer an opportunity to get long if you are bullish on stocks but missed out entering yesterday. We should at...
Nice uptick though, reinforces my conviction to have not re-invested all of my cash on a recent sale. Looking for some more discount prior to purchasing some more value in the energy space. In a way this is a trade, in a way not really. RSI looking constructive to the US dollar having a period of gains in the next few sessions. This setup is invalidated if DXY...
Looks to be a bullflag on the 2hr chart, will be watching for a morning break out.
Stocks broke down from the bull channel pattern exactly when we said they would to exactly the level we identified (brushes dirt off shoulders). We noted the bull channel and lackluster momentum. Also we noted the vacuum zone below to 3624. The Kovach OBV has registered this huge dip, but has since levelled off. Current levels will provide resistance, but...
Stocks found support and resistance exactly at the levels we have identified. The S&P has followed the course identified by our bull wedge pattern. Currently it looks like we may be ready to break down from this pattern. Note the Kovach OBV has dropped precipitously. The S&P has breached the lower bound of the channel pattern multiple times, and has not seen...
Bullish looking formation forming on KAP. A 340 neckline break could open 440 and 500 targets. Keep an eye on the 340 level in coming days.
On a weekly chart Coronation looks like it's breaking back into the longer term channel of 4900-3600. If it can manage to break out of this channel convincingly then 6000 could become a target. Neutral until then.