This stock is in a good position to give us some healthy gains. First we need to gain the internal structure going higher than 8400 at least, then hold 7700 to continue the move to 12000, else it will fail and create a new low, local to a higher time frame. But this spot is key at the moment, keep a close eye from tomorrow morning open...
JSE:IMP is at a multi-year area of value. This is supposed to be a support level, I wonder how long can it hold. If it fails the stock will have a rough ride.
No position.
JSE:IMP Given the weakness in the platinum miners and resource stocks in general in the last few weeks, it takes some bravery/optimism/fondness for punishment to start nibbling at long positions.
Some resource stocks, and platinum miners in particular, are tilting bullish. on JSE:IMP :
- Golden cross & bullish confirmation on 1D MACD
- Bullish divergence on...
After a successful long position, JSE:IMP has bounced off resistance to form a double top. I think we can look forward to a downward move down to the support level around the 14200 level.
JSE:IMP is looking good for a long position. The stochastic has crossed upwards from below 20 and the MACD crossed upwards yesterday. The moving averages haven't crossed yet, but a doji formed on the 5th of October which serves as a signal for a possible turning point in the market.
We are looking at a target around the previous resistance at about the 17500 level.
I Started buying around may 2019
- i will be looking to buy more around the R9600 REGION DISCOUNTED OR PREMIUM YOU CHOOSE
- R12000 REGION ALSO LOOKS LIKE A FAIR BUY.
### TIME WILL ONLY TELL
Just by purely looking at the charts, JSE:IMP has formed a bullish engulfing chart pattern and we could see an upward move confirmed by the stochastic.
I am remaining cautious as the world markets are all majorly down this morning, so I will definitely wait for a solid confirmation before entering long.
- Stock has has a solid run and looks set for a breather
- TP & SL on chart
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
This stock has been bullish for a while now, its hit the support/supply zone and thus I am anticipating a pull back of either 50% or 38.2% FIB Retracement , that will be giving us "B" then we have "C" thereafter. You may sell the pull back but base your entry and target on smaller timeframe and also you may set buy limits for when it reaches the 50% Fib level and...
