JSE:SHP With all this strength in the markets $JSESHP can't move higher. Imagine if some weakness come to markets. Massive head and shoulders in making. Break of neck line will open target around 10600/10800.
Bullish engulfing candle after turning up from a low and crossing momentum indicators could see BVT end its down streak and start moving upwards again. Buy at R195 with a stop below R188 and profit targets around R209 (for a 2:1 reward to risk trade, first half) and R216 (3:1, second half, if it continues, ratchet your stop loss level upwards).
JSE:BID Bearish flag first target 31600/31700 area Ultimate target gap close around 30200/30300 area.
JSE:MTN Holding 8400 for now, bounce towards 9000 possible. Break bellow 8400 will target gap close.
JSE:CFR Break up from cup and handle formation. Back test happening right now. Target 11900/12000
JSE:AGL Consolidating in small flag after initial drop. Currently making big wick candle. If it breaks lower target should be around 37500, with extended target around 36500
Standing back and checking the long downward channel in SHP is rather scary. Last push didn't break the negative channel
JSE:FSR Flat bottom triangle in place. Break bellow will target gap close around 6500.
JSE:SOL Looks like starting to roll over on hourly. Still stuck in symmetrical triangle on daily
The Moody's call messed me around on FSR, but the MACD, MA, RSI and STOCH's are showing a potential downward move in FSR.
Looking at a weekly chart it seems that we are in distribution that has started in 2015. We now see volume off the tops of the Last Point of Supply (LPSY). There are Signs of Weakness (SoW) and change of character in the background. I break below the yearly pivot point which should be tested this week could result in significant declines.
There are many aspects to celebrate the JSE rising... Technically we have a breakout above the W-formation, break up above the downtrend for the first time since may and end of the year buying before year-end. Fundamentally we have a couple of reasons to feel pride: 1. JSE Is tightening with the regulations with the listing requirements 2. Leila Fourie...
Strange week for WHL to be making a comeback, but there we have it.
JSE:FSR Testing small resistance around 6680, break above will target 7100 area.
JSE:MTN Consolidates in box. Close bellow 9200 will probably open target around 8500.