As you can see as a position trader, we don't care about short term fluctuations with what happens with the FED, Employment numbers or Earnings. We only care about what we see in the charts and where the markets are more likely to head. The JSE ALSI 40 upside is still intact, and we are cautiously optimistic. BULLISH BIAS
Since the breakout of the Cup and Handle formation, the rand has just been falling against the US Dollar. The target remains and I'll keep you posted on the process. I still hope I'm wrong!
Barloworld has beautifully broken above the W Formation Showing a ton of upside to come. The 7 >21 MA bullish. The price is above the 200MA CONCERNS: The 200 is still above the 7 and 21 MA but I guess with a change in trend, we will see this no longer soon. BULLISH
Mediclinic has just broken out of a somewhat Rounding bottom formation. The demand and buying has kicked in which could send this price flying, once the support is retested and confirmed for upside. CONCERNS: The liquidity isn't great as the candles are quite large and erratic. Bias - Bullish.
W Formation has formed on the daily and price has broken up and out of it. Moving Averages are almost perfect but still below 200MA.. Target 1 - R49.81 Bullish With the JSE on the next upleg, we can expect a number of Top 40 companies on the index to rise in the next week or two.
W Formation - breaking as we speak. One more candle above and it's systems go for this one. Falling Wedge broken as of last week - Bullish Price target R4.8 CONCERNS: 7 And 21 MA is still below the 200MA showing the trend is still sideways.
W Formation on the daily has recently broken up and out of the neckline. It then retested the support and bounced up, showing demand and buying is in play. Moving Averages are almost perfect but price is still below 200MA... Target R1023.73 With the JSE on the next up-leg, this could help boost the share price with this trade idea.
Inverse Cup and Handle on Northam Plats after an extended year of downside. The MAs are almost perfect 7>21 But price is still below 200MA. Target R221.18 Bullish Regards MATI Trader
Falling Wedge has established on Standard Bank. Price has just broken above, but it's early days. 7>21 but 200 is still flirting with the previous Moving averages... My first target is R186.29. CONCERNS: The JSE is mirroring the upside of the American markets (with the good earnings results) With the Dollar strengthening again, this bull run could be short...
We are currently in a very difficult trading environment for the JSE ALSI 40 (and the stocks in the index) and I believe world wide (with most markets). This sideways movement has been going since July 2022... The world is in a rut with major issues like high inflation, ongoing interest hikes, currency collapses, US dollar strength, UK economic collapse, East...
Large Tripple Bottom There are also two Cup and Handles formed in the recent past. Now that price has broken above both Brim levels it's looking bullish. RSI> 50 and above the downtrend line. Target R219.05 CONCERNS Liquidity is low and it causes spikes in prices. Such a large formation, can sizzle out the price move and it can continue sideways for the next...
Short formed W Formation This is where the Right rounding bottom is higher and makes higher lows than left rounding bottom. The RSI is above 50 and has broken its downtrend. Target R205.60 to begin with... Do you agree?
Inv C&H formed a while ago. We went short when the Rectangle Pattern broke down and banked a profit. But now that the price is staying in the downchannel, tells us there is more downside to come. EXTRAS: Price < 200MA Bear channel Target 2 - R212.25
INV C&H or Descending triangle RSI <50 Wait for the brim level break Bearish bias CONCERNS: The liquidity is low and high volatility which can cause the market to gap 10% on any given day. These are risky assets to trade.
Terrible liquidity of a stock. The bias is bullish with higher lows and a Cup and Handle in the process... We still need to price to break above the brim level, before we confirm the upside. RSI is below 50 - which is not great but considering the high volatile low liquid nature of the stock, we can only expect it to move like this. I remain optimistic and...
Potential Inv H&S Price touching 200MA RSI>50 and downtrend Target R4.83 Bullish and awaiting a potential buy signal...
MR Price is potentially forming a W Formation. THe RSI is making higher lows and has broken the downtrend - Bullish momentum. The target could be R240... CONCERNS: The downtrend is still evident with a downtrend line dominating and negative Moving Averages. If the price turns up things will look brighter.
MARKET: Mondi ( MNP ) TYPE: Long (buy) ENTRY: R288.42 STOP LOSS: R264.28 TAKE PROFIT: R324.76 REASON: W Formation Breakout of medium downtrend Moving average 7>21 - Bullish Medium probability trade