Trades don't always work out. The trick is to prepare for not only the stop loss to be hit but also the counter action immediately afterwards at times. So in this case, the false break below lead to a rounding bottom and following another higher rounding bottom If it breaks above, we will be stopped but the next trade will be imminent for a long position....
Nampak W Formation broke above the neckline and rallied in a few short days to the first target at R271.81. Now there is no breakout pattern emerged but there is a Regression channel showing a trend. With an uptrend line. Below the uptrend line is the safety like which means, we can expect the price to continue up for now until it hits the target at...
W Formation & Falling Wedge has formed on City Lodge. We haven't had a strong breakout so the consolidation range will continue as it is... We need an imminent breakout before we jump on this one. Target R5.35
Potential Inv H and S has been forming since September 2021. Mr Price, has tested its lows at R125.00 multiple times, and the price continues to rocket up. It now needs to form one more shoulder, higher low and cross above. And we could see Mr Price at R305.37 by 2025. NATURE of the analysis: High Probability Price>20 Price>200 Target R305.37
This break on the weekly chart could indicate a target of 85 000 or 14% upside potential.
Cup and Handle formed on Northam and the momentum is looking good for upside. As many brokers and market maker in SA don't allow trading PLatinum, the only next options we have are platinum stocks. So this one is one that is almost mimicking the precious metal. We are seeing price above 20 and 200MA. And this means it's a High probability analysis... Target R167.75
USDZAR has been trading in a defined sideways channel 19,40-17,40 for close to 18 months. Early days, but another down channel looks like it might be forming. If this is the case, 17,40 could be challenged in coming weeks and a break of the bottom of the the sideways channel at 17,40 could be on the cards.
Broadening Pattern has formed with Capitec. When this pattern forms it bounces between ranges. Right now it bounced off the top of the range, and is most likely to come down 50% from the most recent rally. Once it comes down to a target of R2,400 then it could consolidate move sideways and then breakup to the next target at R2,900. This is a little...
M Formation is now turning into a W Formation We never had the break down and now it is looking up, along with the platinum price. So we need to adjust course. Now we are waiting for a breakout above the Neckline of the W Formation then the next target will be around R126.27 Nature: High Probability Price>20 Price>200
Since the last major update where we expected Sasol to reach a low of R112.00 Now the price has broken above the downtrend, we are seeing a more optimistic view. And this is in the light that Brent Crude price is going up nicely along with a weaker US Dollar. So, I am looking for upside for Sasol to around R242.67 now just to retest the resistance from the...
These illiquid and low volatile penny stocks need weekly charts to remotely see the biger picture. There are two facts. The price broke below the Inv Cup and Handle with price bring below both 20 and 200 MA. Second, the price has stabilised around an extremely strong and important support level at R1.00. If it breaks R1.00 it's doomed to 20c. I'll try...
W Formation is clearly forming on Motus. The downtrend has broken and price is above the 20 and 200MA. We now need a clear break, close above and open above the neckline. Then we can easily set a target for the company at Target R144.77
W Formation formed on PPC. The price broke out of the downtrend since January 2024. and we have further confirmation with price above both 20 and 200MA. The target has therefore been increased to R4.60. With the new building of the malls in South AFrica and the property boom, I don't blame a company like PPC to have invested interest from the shareholders.
Nampak shot up a LOT faster than I ever imagined. And it destroyed the first target at R271.81. Problem is the uptrend is extremely steep which can signal flat panic amongst the buyers. I would now wait for a 50% pull back from the most recent low and high to about R243 and then some consolidation before it runs up again. It's still very bullish but there...
Cup and Handle has formed since September 2023. We are waiting for an imminent breakout. With the new cabinet in play, stronger rand and weaker US Dollar with Granpa Biden bringing the US down. We are in for a potential rally with the JSE. Question is, will the AMerican markets lead the JSE too? When the US dollar weakens, we generally see a rally in their...
Cup and Handle formed on Absa, broke up and out of it. On 12 June I said it was imminent for a breakout to the upside, but I had NO clue how fast this thing was going to rally. And it was only a Medium Probability Trade Price>20 Price<200 Now that the price has shot up, it obviously is silly to just buy and go long without waiting for a trend confirmation...
Cup and Handle seems to be forming on Absa. There was little supply (selling) which caused a major push up on the bank stock. Banks have lagged many of the leading markets, and so hopefully they play catch up once the JSE TOp 40 picks up yet again. RIght now it's in Medium Probability territory. MPT Price>20 Price<200 Target R181.95
We need a Weekly chart as there is too much chop on the daily. Bidcorp has been moving nowhere slowly since April 2023. And during this time it's been moving in a Bullish Diamond Formation. Why it's bullish is because the previous trend and pole was up. SO we are expecting a sideways move before the break up and out of the pattern. Next target will be at R526.74