JSE:VOD Look for break higher for gap close and potential target around 13500
JSE:BID has been trading in a channel for a while and is at the strong resistance at the top of the channel. I am anticipating a downward move back to the bottom of the channel as it seems to have struggled at the resistance level before. If the downward move doesn't happen and it breaks through the top of the channel, I will consider a long position.
JSE:BID Breaking above sideways consolidation. First target previous high around 32100
The share price for British American Tobacco (BTI) has been moving in a descending channel on the daily timframe, as evidenced by lower highs and lower lows. The price has just broke out of a corrective ascending channel (counter trend) on the 4-hour timeframe and came back to retest the previous-support-turned-resistance at the price level of 57730. I expect...
JSE:CFR Made falling wedge during the last pull back. If it breaks higher target should be around 111.00
A Morning Star pattern has formed on JSE:GFI which is a bottom reversal signal. This coupled with a bounce of the bottom support strengthens the signal. A Morning Star is found after a preceding down trend where the 2nd candles body must be below the 1st and 3rd candles body. The 3rd candle must close above 50% of the 1st red body. I will enter this trade long...
JSE:CLS Another big move after results. Breaking above long consolidation, FT 20000 ST 20500
JSE:MEI Market reacts good at results published. Yesteraday broke lower but today back above and as old saying goes from false moves come fast moves. Big channel has been tested. Don't get surprised if we get another short squeeze here.
JSE:MEI Making flat bottom triangle, break lower will bring more downside.
Below is the bullish trending channel broken out, we can either wait for the re-test of the breakout which is also at the GAP area i.e. 18956 to enter the sellers or we can sell at current market price.
JSE:AMS has reached a resistance level just above the 83000 level. It reached this high on the 22nd of March bu then retraced all the way down to the 72000 level. Before this, the last time it reached these levels was in April 2010. My thoughts are that it is going to retrace downwards again and I am looking for a move back down to the 72000 level. If it does...
JSE:BVT is trading in a sideways channel and has been since mid-November last year. It has reached the top of the channel and will most likely bounce on the resistance and continue downwards. I will enter a short around the 21600 level if it goes down. Our target level will be the bottom of the channel around the 19000 level, which is also a significant level...
Wait for the market to drop to the demand zone indicated with the red arrow facing up and buy there targeting the supply or FTR area
Within a bigger bullish trending channel there is a smaller bullish trending channel as well, the breakout of the smaller channel will be perfect entry for trendline breakout traders to target the support line of the bigger channel.
Currently the market is trending bearish towards the previous S/R zone and I expect buy entry at that point.
Dis-Chem has started a long term and large Trading Range in June 2018. The range boundaries have been set in Phase A between R24 and R35. After a Selling Climax (SC) and Automatic Rally (AR) we have now seen a Secondary Test (ST) of the SC lows. A small TR has now formed at this support and we have seen a Spring. We are now expecting a markup out of the small TR...
A little like Kumba S32 is looking week in a strong sector. The relative strength to the resources sector is rolling over. I previously looked at the structure as accumulation but this seems to have been an upthrust (UT) that met with supply (Increased volume on UT). The volatility to the downside has increased from 19 to 28 to 34%. The upward stride has been...