I'm looking at weekly and monthly chart, waiting for breakout from downtrend. Taking conservative view so would find more comfort on breakout when price moves above 2750/2800. Plus, Chinese regulatory issues appears to be priced in.
- MACD crossover
- breaking previous support
With all the tension happening in the US stock markets it could have a severe impact on South African markets as well. This is an analysis of the JSE TOP 40. If inflation goes up enough in American markets the federal reserve could take actions to raise interest rates, meaning higher rates reduce stock valuations because why? They weaken the present value of...
This is just a short analysis of the potential price zones we could expect with Exxaro Resources Limited JSE:EXX . I think this company has good potential and a solid track record, good luck with everyone's investments I wish you well and a prosperous future!
This is merely an idea and not investing advice, tread carefully and invest on your own risk!!
The MACD and Stochastic indicators on JSE:GLN are both signaling a downward move. However, it is currently trading around a support level (+-5800) and I will be inclined to wait for it to break through that level before entering short. If it does play out, we could see a move to at least the support level of around 4900.
JSE:EXX is showing signs of a potential short trade coming up. The first signs came with the stochastic and MACD crossing downwards, and it has been confirmed by the downward cross of the 3 and 15 EMA's.
I see it potentially moving down to around the 15000 support level, where it may retrace before potentially continuing downwards. Let's see what happens.
I initially predicted a 17% decline on JSE TOP40, the move is well in motion. See link below
South Africa has had one of the worse lockdowns in response to covid19 and it resulted in a reported decline of 51% in GDP. The unemployment numbers and number of business bankrupted are not yet publicly...
Following the Elliott wave retrograde analysis, we see a significant head and shoulders with a high bearish momentum; the defining price range for the next rally is entirely based around the 0.618 Fibonacci retracement levels.
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