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...
I prefer identifying horizontal trading ranges (TR) but in the case of Mondi I will make an exception due to the clear change of character (CoC) that was seen in the previous decline. At the end of 2018 we have seen a decline that has never been seen in the stock before, with some volume. The attempted rally has been weak and I am expecting a markdown to begin....
With the platinum price improving there has been strong buying pressure in NHM. We see this with increases in volume on up moves and decrease on pullbacks. However, there has still been significant supply keeping volume high. However, now we see a decline in volume indicating that supply may have dried up. I am now expecting a strong move out of the trading range.
The stock price for SASOL is moving in an ascending channel, and my natural bias would be for a short position. However, it is always best to wait for price to show its hand before making any bets or predictions. It is still possible for prices to continue up as the general trend has been bullish.
Ever since price hit highs of 21550 in October 2015, it has been tumbling down and lately price are finding some support, possibly to start a new uptrend. However, this would only be confirmed if prices can close above the resistance zone and possibly retest that level and continue higher. Any buy setups now would be done in a range and it will be up to the trader...
JSE:BTI Testing previous low as well as moving averages. Currently making small hammer. If it stays like this potential long with stop loss bellow today's low of the day and first target at 61000. There is gap lower that potential can be closed so be careful about that.
I am entering with the sellers towards the bottom demand zone which is also confluence with the Quasimodo Level
Broken downward sloping resistance + RSI divergence. Could really get going above R42.50 resistance.
JSE:TFG is reversing following a bearish engulfing chart pattern that formed. We can aim for the support level around the 16000 level.
JSE:ANH Making flat top triangle. Break above will push price even higher.
JSE:OMU has developed a bullish harami which is a typical reversal signal - so we can expect a move upwards with a target around the 2270 level.
Bidvest has been trading in this box since November last year with two failed breakouts on both the upper and lower end. Other than those two fake breaks, action has been contained pretty much between R192 - R210. Without any positive news flow in the next couple of days/weeks there is a good chance this R210 level could resist again. If we see a reversal off...