We see a W Formation, with the price moving and completing the right Double Bottom. Once we get a breakout to the upside, we could see major upside to R11.25. Right now and it's a wait and see but the fundamentals look good. UPDATE: On February 16, 2024, the company announced an expected 45% increase in revenue for the six months ending December 31, 2023. ...
We see Merafe has definitely entered into a Rectangle formation. Price is remaining above the 200MA where it could range between the high and low. We definitely need a breakout to the upside, before we see upside. The target potential will be at R1.61 if the price breaks above the Rectangle. Now I wouldn't be that positive and optimistic with this analysis,...
Transaction Capital has been the come back duck since October. It's reached the first target of R6.88 in December. It then moved in a consolidation sideways pattern that formed a W Pattern. Since it broke above the neckline, the momentum has been on fire. This is just an update that the price is on its way to the next target at R11.53. UPDATE: Transaction...
Harmony is one of the laggards with Gold. While it is moving in a sideways consolidation range, we are waiting for a confirmed breakout. Once it breaks above, we will definitely get long and hold with a strong Risk to Reward. But right now patience is important, cause it could also fall South quickly. In fact, if you draw a Rectangle formation instead of...
We sent out this update in July 2023, where a Vuvuzela (Broadening Formation) formed. INstead of waiting for a breakout, we were playing with the pattern's range instead. Since it bounced off the Support level it's been on the way to R4.75. And you can see the price almost touched it, before retracing back to the uptrend line. So have we been getting it...
SInce the price broke below the Inv C&H, it's been moving first sideways and then it succomb. The price is below 20MA and still above 200MA. We expected the price to head to 200MA which it did. Then broke below and to the next support it goes to R86.51.
Diamond Formation (Broadening) has formed on ANG. This is a rare formation that resembles a Diamond. It's also a formation between a tug of war between the Bulls and the Bears, until there is a breakout. Now either I'm a Gold bullion, or intution is just telling me we are in for a breakout to the upside. And funny enough the indicators don't agree as...
I hate to be the bearer of bad news but if we close below R169.00 on a closing basis I think African Rainbow could well trade much lower to a target of approximately R136.00. Not only is it currently losing a very important level of uptrend support but the R169.00 level has been an important pivot of resistance and support previously. Although the Head & Shoulder...
The JSE ALSI 40 continues to move in some form of Symmetrical Triangle. And it's been doing so since September 2023. Right now the price is below the 200MA which does indicate a BEAR market. However, when you see the 200MA, it's been moving sideways, which does not give the indicator it's reliable signal for a trending motion. And with the price near the...
Couple of things with Multi-choice. It moved on low liquidity to the downside before making a break-away gap and back into the uptrend. Now with gaps they close over 70% of the time and so, we're getting that retest back to close the gap, retest the uptrend and possibly heading up from there. We got the Cup and Handle, which broke up and make a fakeout. But...
TECHNICALS Symmetrical Triangle has formed on the daily since I would say 10 August 2023. There are good technical signs that a breakout to the upside is imminent. First we have a long term upward range from 2020 which the price continues to bounce off the uptrend. Second we have a trending 200MA which the price still needs to break above as it's been in...
Symmetrical Triangle seems to have formed on Sappi. Now on the contrary of a Symmetrical Triangle being a Continuation pattern, it is possible for a reversal to take place in this instance. We have the converging of the trendlines where the price has reached an apex. Strong buy divergences and price action to the up. It's a bit premature to BUY just yet but...
The daily is very noisy. Even the weekly is crazy. So I had to really break it down and look at the monthly chart. And what we can see is the noise being reduced to a RECTANGLE. Now right now the price action is down. Despite the breakin uptrend. Despite the higher lows. The current momentum is down. And all we can do is wait for a breakout. Which way...
Inv Head and Shoulders formed on Vukile as of my last update. The progress has been slow but sure. It broke above the neckline, stayed above the uptrend and 200MA. So the next target I'm raising even higher. But this time to R17.59 FUNDAMENTALS: Positive Earnings Release: Vukile Properties released their first half 2024 earnings showing an increase in...
W Formation has formed on Calgro M3. We haven't had our breakout yet but it's most definitely forming higher lows. ANd it's above the 200MA with a predominant uptrend. This is all great news for potential upside. We'll set the first target at R6.03 FUNDAMENTALS: Calgro M3, a South African property development company, has been experiencing a rally in...
Cup and handle has formed on Hulamin since 10 May 2023. With these Penny STocks and less liquid markets, they can take a long time to form patterns and formations. But when they breakout, they can rocket in the direction of the breakout. I like that it's restested the support and brim level, and is showing that the buying is accumulating. And that that...
Diamond Formation formed on MTN. This is a broadening pattern that could have broke either way. The fact that it broke down and almost retested the 200MA showed the momentum was down and bearish. Now it's on a one way trip down. First to R90.00 at next support If it breaks below we could very well see our main target at R60.65 FUNDAMENTALS MTN Group, a...
Unfortunately, the price did break below the H&S and Thungela showed a ton of supply and selling coming in. This means, the target is still set to R91.93. The support at R121.50 was the last hope for the share to hold and bounce. But now it's clear that this resource miner is in trouble. Now let's cover the fundamentals. Coal Prices Affecting Profit: ...