After a long downtrend, we have seen an accumulation trading range starting in April 2020. After a change in character after a last point of support (LPS) in October, we have seen some volume and a markup start. Now after a backup that was unable to make much progress. We have now seen a significant bar with some volume and the expectation is for the markup to continue.
After the signs of strength at the end of last year - See post below - Distell is now actively being marked up with high volume.
looks atractive as the alcohol burn lifted they may see an upwards move bouncing of a major Zone and broke out of a triangle formation
Sell short if Price drifts below Yellow Trend-line. This is not a naked trade.
Equites Property Fund has been weak. After breaking the trading range and backing up to the breakdown it is now likely to be time for the markdown.
Refer to linked idea, this is a continuation. Can add to existing position.
Failed bounce off Shaded area. Very likely to break below it.
Although JSE:CLS is trending in an upward direction, it is also trading in a parallel channel. It bounced off of the top of the channel and seems to be retracing. For the moment, I think it is possible that it will retrace down to the bottom of the channel before turning up again. The bottom of the channel also coincides with a strong support and the...
JSE:PRX has been trading in somewhat of a channel since April 2020. Two day's a go it broke out of the channel and looked like it would continue up, but instead formed a shooting star pattern. Yesterday and today are showing strong downward momentum. We could see a move towards the bottom of the channel or to the support level at around 150000.
PPC has been showing abnormally high volumes since May 2020 as it was forming a bottom. Now after finalising the accumulation volume has increased even more pushing price higher and I am expecting a markup to start possibly reaching as high as R5 before reaching the next important decision point.
From a purely technical analysis viewpoint, JSE:APN seems to be struggling to break higher at the resistance level around 15000. If it fails to break higher and goes down to below 14000, I will consider entering a short. A break above 15000 might mean a continuation of the up trend. We might need a bit of patience on this one.
Old Mutual had high volume days last year that alerted us to some pending action - see posts below. Yesterday there was again some volume indicating the buyers are back from holiday and ready to continue the markup with some space to move.
JSE:KIO has broken an upward trend and it looks like a reversal could be happening. Stochastic and MACD are confirming with their downwards cross. We could see a move downwards to either the 56000 or 48000 support levels.
Following the signs of strength (SOS) observed in December 2020 - see post below - we have now seen a significant bar breaking out from the back up (BU) to the previous trading range. The markup is now set to get going.
Just before the holiday break, we could see some interest in Truworths - See post link below. Now early in the year, we can see this buying pressure starting the markup with signs of strength - relative large up bar with high volume for this time of year. Will be looking for a push back to R60 - R80.
Following a stochastic, MACD and EMA momentum strategy, AGL is showing two of the three confirmations for a short, if it trades lower today and the EMA's cross, I will take this as confirmation to enter a short position.