After a nice downward trade, JSE:AGL seems to be reversing for an upward move. Our momentum indicators, the MACD, Stochastic and 3 & 15 EMA's are all confirming this possible move. I will be looking at 60000 resistance level for a target.
The MACD and Stochastic indicators on JSE:GLN are both signaling a downward move. However, it is currently trading around a support level (+-5800) and I will be inclined to wait for it to break through that level before entering short. If it does play out, we could see a move to at least the support level of around 4900.
JSE:ARI has reached a level of resistance and seems to be turning downwards for a short move. It has been confirmed by the stochastic, MACD and 3&15 EMAs. If the move happens, we might see it go down towards the 200SMA where it might find some support before either bouncing upwards or continuing downwards.
blast off move from the reverse H&S more room for upside buy the pullback
After following Redefine down since mid-2019 it is time to follow it up - see posts following it down below - it is now time to follow it up. A base was formed starting in March 2020 which has turned out to be an accumulation trading range. A last point of support (LPS) was formed making higher highs with signs of strength (SoS) with some volume behind the move....
JSE:CLS failed to make lower lows and bounced off the support level instead. It looks like we might be looking at a move upwards. All of the indicators in our Momentum Strategy have turned upwards indicating a long position.
Although it is trading in a channel, JSE:CLS is showing some downward momentum. It may very well bounce up off of the bottom of the channel, but if it breaks through, I will enter a short position. Beware of the 200SMA, though, that may act as a support level.
Nampak has formed a long term (on the weekly timeframe) declining wedge that has been broken and the mark up has been started. We have seen above-normal volume on the stock, a break of the base that was formed since early 2020, signs of strength (SoS), backup (BU) to the trading range, markup and now a reaccumulation at the yearly pivot point. The volume indicates...
An ascending triangle chart pattern has been forming on JSE:CFR since early Jan. It is currently breaking out of the top of the triangle. If it confirms, this could be a good sign for a long position.
JSE:ABG is showing some downward momentum based off of the stochastic and MACD turning downwards and now the 3 and 15 EMA's crossing downwards. I am looking at a short position to at least the 11250 support level.
JSE:EXX is showing signs of a potential short trade coming up. The first signs came with the stochastic and MACD crossing downwards, and it has been confirmed by the downward cross of the 3 and 15 EMA's. I see it potentially moving down to around the 15000 support level, where it may retrace before potentially continuing downwards. Let's see what happens.