Last week there was a change in character in Mediclinic breaking the Trading Range supported by volume increasing. The larger trend is still declining but the current move could take us back to the yearly pivot point.
LHC has been in a downtrend since the end of 2014. After reaching the oversold line the stock has been in a Trading Range (TR). It has now reached the overbought line with a high volume rejection. Will watch for the downward stride to continue.
After breaking the upward stride and going overbought Capitec is now consolidating. It is busy breaking back into the trend channel. After a buying climax (BC), automatic reaction (AR) and secondary test (ST) in phase A we now have seen an upthrust (UT) in phase B. This is showing some strength but was on low volume and divergence with the volume RSI. Now to watch...
JSE:J212 Head and shoulders in place on hourly chart. More downside to come.
Some price action ideas. Price needs to hold around R11,60 for a retest of the R16,70 area. Not financial advice.
Between October 2018 and March 2019, JSE:CLR went on a strong bullish run. Since then, the stock has been running flat. More interestingly, though, a big bearish divergence has formed between price and the MACD while also breaking the upward trendline. The Slow Stochastic indicator is also trading well below the 50 level at 34. This is indicating weakness in...
JSE:LHC is ready for a long position – descending resistance breakout.
Another bear flag in the making. Still holding previous short position
Price action idea for long term. Levels speak for themselves. Not financial advice. Manage risk & take care.
BHP Billiton's share could find support at the 31 150 price level, which is an area of interest from the weekly timeframe. Since this analysis is based on a higher timeframe, it could take several days before this can happen. The weekly timeframe shows a healthy trend, with symmetrical, deep pullbacks. We are currently on one of these pull backs, and am hoping...
JSE:BHP Support holding for now. Good place to go long with SL bellow today's LOD
Getting ready to pop higher on the hourly
EOH tested a major level from 2007 at R10 and held. We could find an entry on the next test around R14 level, trading a higher low setup. This could potentially turn into a long term hold past current levels to test. Just have to watch the price at those levels and decide when we get there. Not financial advice, manage risk! Take care.
BTCZAR hitting strong resistance around 115.000 will see what it does around this level.
The market is approaching the 48,940 Support. 1M is supported there (RSI = 52.867, MACD = 574.500, Highs/Lows = 0.0000) and the current dip is a solid medium term buy opportunity. Assuming that a roughly -2% Lower High sequence will be maintained we place the next medium term target at 52,200. ** If you like our free content follow our profile...
Monthly chart - NOTE: Not for sensitive viewers
$JSEVOD released a decent set of results this morning in the face of a tough economic environment which we have witnessed locally for the last little while. Perhaps now with elections out the way and a gradual uptick in economic activity, this local counter could benefit from inflows into the SA inc sector of our market. This year we have seen price action...
At an inflection point - waiting for direction