Broadening Formation (Megaphone) has formed on the daily,
The indicators are all showing bearish but I can't help but feel that the breakout will be up.
Regardless, price action is saying the following
Trend direction down
7 < 21 < 200
RSI =50
Bearish
So, once we get a breakout we will know exactly what to do.
After a great run, Impala may be exhausted (See post below as we followed it on the way up). Now it has formed a smaller TR at the top of the larger TR. The smaller TR looks like distribution and could indicate that price can start moving down again within the larger TR. Divergence on the volume RSI points to selling pressure and high volume down could indicate an...
Impala has been weaker than the other sector stocks (Platinum & Precious Metals Index (J153)), for some time (see Comparative Relative Strength). However, recently the stock has shown strength and is the strongest stock in the sector. After a Selling Climax (SC) and Automatic Rally (AR) in 2016 there has been significant selling pressure (OBV) but price has not...
JSE:IMP
moved strong last few months. Bullish flag reached target.
Currently consolidating in sideways range. Thursday candle is nice bullish engulfing bar for traders who want to be aggressive.
If not you wait for the close above 3800.
Target is 4800-5000 range
A comparison of the weekly charts of Anglo Platinum, Impala, Northam with their relative strength (RS) to the Top 40 is presented. A 40 Week or 200 Day MA has been put on both the price chart and RS. Anglo Platinum has the strongest momentum and is breaking a longer-term trading range (TR). Lonmin is still very week. Impala has had some recent strength in a wide...
JSE:IMP
After big move up $JSEIMP is trying to consolidate. Problem for me is that consolidation is taking too long. If this was bull flag we should be moving upside already.
On the bearish side there are triangle that was broken yesterday and re tested today.
$JSEIMP trading bellow 20 ema so possibility to go and re test neckline of head and shoulders.
