Price is currently stuck in a small range with support at 18 300 and resistance at 21 920. This will be a risky trade (not that there is no trade without risk) because we will be going against the trend. However, the risk reward of 4.33 gives me the confidence to still take on this position. My entry will be at 21 550. Break a chart!
JSE:LHC has just broken out of a ascending triangle that it has been forming since mid November last year. Because of this I have entered a long position. An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along...
JSE:NPN has shown a dark cloud cover, which often signifies a trend reversal, so I will enter short. However, it has been in a very strong uptrend for a while, so I will trade with caution in case it continues upward.
JSE:SHP is trading at a resistance level and if it breaks through, I would consider a long position based on the breakout of the longer term down trend, but if it bounces off, I will go short for a shorter term trade. But I will wait to see what happens first, before I make a decision.
Price is moving in a range on the daily timeframe, with the support level at 2 120 and a resistance level at 2 370. Though it is possible that price may move further up to close the massive gap on this stock, it is my belief that prices are going to continue further down due to a cluster of orders that are sitting at or above the resistance level. The daily...
Break out confirmed - targets R324.50
Datatec has formed an accumulation trading range (TR) and backed up (BU) to the TR after the breakout. Today there was a breakout of the BU Trading Range. The markup in Phase E can now be expected and potentially could close the gap formed in January 2018.
JSE:TBS Down trend continuation here. Looks like 240 must hold, if it goes 22000 is next target.
Larger IHS in the making following the release of results today. Break above R1110 targets R1288
JSE:INL has encountered resistance and will most likely turn downwards for a short. The stochastic is also turning down through the 80 which is a possible reversal sign.
JSE:MTN is on the verge of breaking through an ascending triangle pattern. If it breaks through convincingly, I will enter a long position with the target around the level of the close of the gap from August last year.
Bounce in the R434 region may offer new entry point
Transaction Capital has been in a steady uptrend with reaccumulation range stepping stones. With each reaccumulation, a similar price and volume pattern was followed, with a spring and test on increased volume. We are now at that junction again and a markup can be expected. The next markup can be expected to be smaller than the previous markups as there is...
After a high volume selling climax in 2018 Standard Bank is now at the top of the Trading Range (TR) that was formed. A smaller distribution range has formed, there is a divergence with the Volume RSI and some selling volume. The expectation is that the price will move in steps to test the bottom of the TR.
Bullish action continues - daily chart confirming hourly bullish signals. Close above R434 will be key. Target R478
BTCZAR price testing massive resistance, if breaks above will probably move towards 100.000 for one BTC Above 100k next resistance comes around 115k
After a sharp decline with a Selling Climax (SC) Old Mutual has been ranging. Now after some low volume accumulation price has pulled back to the bottom of the trading range also on low volume. The spring off of support has been on good volume and after a test, we can expect a mark up in the Trading Range (TR) in Phase D to the top of the TR. We can then look for...