Most of the JSE stocks aren't looking great at the moment, however it looks more corrective that impulsive at the moment, we should get another correction and impulse to the downside on IMPALA Platinum.
Bulls should start defending at R162-00/pshare, if there isnt any spike in volume at that price or not impulse move to the upside, we could see a deeper retracement
Since mid-May, JSE:IMP has been struggling to make lower-lows and found itself in a sideways consolidation period. With yesterday's upward move, it has broken out of the top of the consolidation zone. If the momentum continues, we could see a move up towards the 30000 resistance level.
market is in a strong bullish trend with no divergence on the MACD on the monthly,
Trend line was broken on the weekly that indicates a correction in the market before we see the next leg higher which could possibly be the last impulse move in the stock before entering into a bearish market cycle.|
Ill wait for the correction on monthly to play out s we already...
After Impala Platinum Holding Ltd. has been held down all of these years, its time for the company to return to where it belongs... way, way up.
While I would love to talk about returning to all-time-highs of 40++, why not just get in while the market is at a low around the next resistance point of 15 or 16, and then ride it to at least 20 for a casual 20-25%...
The rhodium price crashed in March by 32 percent but is recovering already. Still the rally of the last months and years stays impressive.
The reason for the bull run is a tight supply and a strong demand. The causes of the jump have not yet disappeared and may last longer.
Not only rhodium is scarce, but its ETC (XRH0), too.
The largest rhodium producers,...
JSE:IMP is showing signs of a reversal to the up side due to the double bottom that has formed. After a successful short position, it has bounced off of support and looks like it will be heading up towards resistance at around the 17500 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.