Capitec has been in this Broadening Pattern (Vuvuzela) formation since November 2023. It breaks into higher highs and lower lows. But the overall momentum and trend channel is up. It will continue trading in this range until we get a breakout of the resistance or support. My bet is it will first trade to the top of the range at R2,485.92. Capitec has always...
What a difference a dividend makes! The payment went out on the 15 April 2024, and because there are derivatives that traders can trade off - the algorithm droped the share price quite significantly. I don't think this company should be providing such high dividends if it wants growth in the share price, but hey I'm just the guy behind a computer. So last...
Bidvest has been moving in a sideways consolidation pattern called a Diamond Pattern since November 2023. This is where there is a tug of war between the bulls and the bears. BUt the fact that the price is holding quite well despite the international market crashes, means the buyers are holding the stock strong. It will most like need a few more weeks/months...
Merafe was easily set to great upside to R1.72 This was due to a Box Formation, Upside and Price above the moving averages. But then 22 cents Dividend was given out which caused the share price to drop quite quickly. So is the analysis still on? I guess it is as long as it hasn't hit the risk level. But these are things to take into account and learn from.
M Formation has formed on PPC since November 2023. This is a very risky trade analysis due to the high volatile nature of the share. But if the uptrend holds strong and lower highs continue, we could see a very big fall with the cement company. Medium Probability Trade Price<20 and Price <200MA Target R2.37
BOX Formation has formed on Renergen. Also there is a rounding bottom. The price has broken above the neckline of the Rounding Bottom but not the box form yet. Once it does, we should get an easy indication that the market wants to head up. The nature of the analysis is Medium probability due to Price>20MA Price<200MA Target 1 will be to R21.82
There are two potential rising formations to come for Sasol. Either Rev Cup and Handle or Inv Head and shoulders We do need the confirmation though for upside to continue to come. Moving averages yield a Medium Probability setup with Price>20 Price<200 Oil is also confiriming a short to medium term rally which will help push up the price Target R228.61
Head and Shoulders has formed on Absa Bank since 28 December 2021. Major downside to come if the price stays below the brim level. Price< 20 and <200 and the background has turned red. Target R76.08
Inv Rev Cup and Handle formed on the daily chart. Absa has been coming down on a strong trajectory, despite the upside in the US. Technically, we have a strong likelihood that the price will continue down. Price< 20 and <200 Target R127.02
Broadening Formation (Vuvuzela) and W Formation is forming on AngloPlats. We are seeing synergy with the upside with the platinum price and platinum stocks. I guess no suprise knowing they work in tandem with each other. Also, there is a good chanc eof upside with the price above both: Price>20 and Price>200 Wait for break above the necklines and we could...
M Formation has recently formed on PPC. We are seeing negative signs more than positive. On Tuesday, the price crossed below the 200MA which confirmed downside to come. Now we can expect a test and a consolidation period before further downside, but well need the price to cross and close below the 200MA first. Target R2.37
The South African currency has been weakening for years, but it has already tried to break through the support shown in the picture three times. It may be worth placing a short position up to the lower support.
We saw Capitec form a W Formation. The price broke above the neckline and then made a fakeout. Now it will be testing the uptrend support line before further upside to come. I am bullish cautiously, but we still need the demand levels to pick up. The target will then be R2,485.00
Standard Bank has formed an M Formation. The nature of the analysis is down and is a sell as it's broken below the neckline and the price is below both the 20 and 200MA> So it looks like the next target is R150.00. FUNDAMENTALS Fundamentals also came out today and yesterday which could influence the price and the large candle today. Standard Bank Group...
I always feel hesitant making big predictions for Penny Stocks. Especially after they've been through hell and more hell. Well, all I can say is there seems to be some stability around the lows of 49 cents, where the demand and buying keeps pushing the price back up. So if we get a break above the brim of the cup, we could see this market rally to...
Symmetrical Triangle was a a text book trade. The previous trend was up. Price broke above the apex 3/4s in and the momentum continued up. We had further indicators of confirmation for upside to come. Price>20 Price>200 Target 1 R206.03 So what now? Well we can expect somewhat a consolidation, and a potential Cup and Handle to form. Then we have the next target...
The W Formation target reached at R12.60. We then had a skew Cup and Handle, which the price has broken above its brim level today. It's another High Probability position as the Price>20 Price>200 Next target will be at R14.40. WIll update you on anything if it changes.
Bell Equipment reached our first target R20.54 in November 2023. It then had a mark-up phase before consolidating into a W Formation. Once the price broke above, we knew demand and buying was still on the cards. technically we have price above both 20MA and 200MA. So the next target for Bell Equipment is set to R28.68. ABOUT THE COMPANY Bell Equipment...