We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT investment advice.
>SASOL and the oil industry have recovered from the 2020 March oil crash >Buyers of the March had massive gains and now by the looks have taken profits >Selling off has begun with targets +R140 >130 to 157 Zar looks like a good zone where new buyers will come in
Not sure what the market is doing right now, but if I had some shares, I would hold.
Although RDF and SA property have been struggling post lockdown I do think there is some lagging behind and a 'bottoming out' that has taken place. I like the 200 level here and has great risk reward opportunities. 192 as a tight stop.
The share price is currently heading towards the major descending trend line and previous support from a well-structured double-bottom pattern. For the more risk-aware investors, I'd advise you to place an alert around the 1280 level and await crossing confirmation. I will also update this idea upon finding more useful/reliable fundamentals. Goodluck and follow...
$JSEWHL - A daily close above 3565 would trigger the long. We have both moving averages and a nice break. Note - Potential Golden cross.
BTI formed a reversal pin bar on the weekly chart last week. A close above last week highs could present a long idea. Long above R580 with R600 the first point of Resistance.
Close above R144 triggers the long idea of an inverse H&S. 1st target is R160 and full target at R210. This will require some serious legs if it were to pull through.
Descending triangle pattern building on OMU. Will need to close below previous swing lows, at R11. First target at R10 and full target at R7
BID has been stuck in a range bound rectangle between R280 and R288. However, R276 has been a level it hasn't been able to break. A close below R276 triggers a short idea with R264 target. Should it trigger a stop loss would be a close above R280
Not quite a trade I would take, but for JSE Investors I think the market will probably drop 17%. Not financial advice
The top40 index bumped into weekly downtrend resistance @ 52200 connecting multiple tops since 2017. Given the one-sided rally off the march lows, the probability favors a bit of a pause and retracement before an attempt to break out through the oncoming resistance. I would be quite surprised to see the index break out to new highs without some sort of...
Known to all, the US markets have outperformed the SA markets for a significant period of time. From a pure charting perspective, the series of higher lows on the macd indicator vs the series of lower lows on the price chart of the pair (SA40 vs.SPX) is indicative of bullish divergence warning of a change in trend where we could start to see the SA40 Index...
JSE:WHL Mange to break higher after two big up days. Broke flat top triangle but currently RR is too small to take long trade. Rather wait for pull back and potential test of broken triangle.
JSE:MNP Not perfectly symmetrical inverted head and shoulders. Wait for break higher.
JSE:SOL Testing gap from 9 March and making flat top triangle in process. Wait for break higher and potential gap close.
The current levels between 47600-48000 on the JSE's TOP40 index was a major area of support in the second half of 2019 before breaking down to low at a level of 33400. If a change of polarity where to take place at current levels you would expect this previous area of support to be respected by the market and possibly turn into resistance. I was quite shocked to...
JSE:J200 Support on J200 very close around 33000-35000 area. But don't count too much now supports getting broken these days.