Rounding Top (Scallop) has formed on the daily chart. The price has broken below the neckline which signals bearish for USD Also the moving averages are almost looking good. 21 > 7 >200 - Bearish First target R15.92 The correlation between the Rand and the JSE stocks have somewhat reversed as of late. When stocks rise, the rand tends to strengthen and vice...
Cup and Handle has formed on the daily with Bidvest. The price has broken out and we are being a bit premature to go long, but the demand pressure is strong. 7>21>200MA Bullish signal Target R258.13 Fundamentally, with the interest rate decision to pump up the market responded mostly positively for a short term view and this is probably because of the buying...
Bear Rectangle is forming on Sasol as it previous did a few months ago. There are bearish signals as the downtrend is continuing. The 200 > 21 >7 MA which once the price breaks below R277.95 we will have our next target at R225.43. This confirms with the ongoing drop in oil price...
In the pipeline is seems Coronation is forming an Inverse Head And Shoulders pattern. We seem the upside potential on the JSE based on the last analysis I did. The first target will be to come down a bit, break above the neckline and then head to R41.58
The JSE ALSI 40 is finally showing strong upside since April 2022... It's broken up and out of a box formation and is showing the first target to 73,300... This is based on following the recent America's rally with the inflation rate coming down finally and dropping below the expectations. GDP is picking up and jobs have added over 261,000 jobs. The leaders of...
Bull Diamond Break up and out of the resistance for Vukile It looks good target R15.27. With the JSE showing a strong bull market since the crypto meltdown. Investors are looking to deposit and move their money into safer and more stable markets and instruments.
SYGH on Daily had a Triple Bottom Followed by a Falling Bull Pennant The bias is Bullish and if we base the target on the previous flagpole we can expect Target 1 to head to R30.50
Inverse H and S on Amplats The break out of the neckline was strong and the MAs look good 7>21- Bullish. Price is testing 200MA but looks like momentum will help overcome it. Target R1,917.58
Another Penny Stock ready to rock. Pan Africa has formed an Ascending Triangle with the break to the upside on Friday. We can now expect the share to head to R4.16. Bullish.
There has been a change in the wind for City Lodge. A small but evident Cup and Handle has formed. 7>21MA Price is still below 200MA which is a minor concern but with the JSE and ALSI picking up and establishing a somewhat bull market, this should send the price up, Target 1 = R5.00
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
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.
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...