Cup and Handle has formed over the last few months with EUR/ZAR.
We got a break down below R19.65.
Now it looks like there is further downside to come for the EUR which is good for the rand.
21>7
Price >200
RSI<50
Target R17.32
The big warning technically is that the EUR/ZAR is flirting with the 200MA. Until the price breaks down, then I'll feel more...
Inverse Head and Shoulders has been forming with Clicks since March 2023 as it was being formed.
We've seen the price making higher lows, breakout of its year downtrend, and things are now looking better for the bulls.
Other indicators confirm:
7>21>200
RSI>50
Target 1 will be quite extended and it could be a medium term hold but my first price is to R340.76
...
M Formation has formed on TBS.
This is from the prior downtrend showing difficulties for the company.
Now that the price has broken below, there is a higher chance of the market to drop.
200>21>7 Bearish
RSI<50 - Downtrend momentum.
Target R130.00
CONCERNS: If the JSE ALSI 40 rallies to new highs and breaks out of the Broadening formation, it might slow down...
This week I remain an optimist that we will see a higher low with the JSE.
And it will soon (not sure when) break up and out of the long extended Vuvuzela formation.
Once it does my first short term target will be to 75,000.
Every year it seems the JSE is testing traders more and more.
Some fundamental news: Someone asked about what happens with the Interest...
Well, well, well, we've identified the tumultuous and monotonous pattern on the chart finally.
It's known as a Broadening Triangle or what I call a Vuvuzela Formation.
The price diverges instead of converges in a triangle pattern...
Now this can be a continuation or a reversal pattern. It all depends on the breakout.
Looking at the D&S and liquidity it...
Falling Flag has completed on DRD Gold. It started on 9 May 2023, where the price came trickling down in a falling rectangle formation.
The price now has broken above, which signals high buying and demand liquidity.
This will push the price up.
Other indicators confirm:
7>21>200MA
RSI>50
Target 1 will be to R25.24 at the top of the pattern.
ABOUT THE...
Inv Head and Shoulders has been anticipated for months.
We were just waiting for the right shoulder to form, which it has done.
Next we'll need the price to close above the neckline and it should be a strong trade to buy, hold and profit.
Price >200
RSI>50
Target R23.78
ABOUT THE COMPANY
Life Healthcare Group is a South Africa-based healthcare provider....
Inverse C&H has formed on Richemont.
Before the handle formed, it made a Breakaway gap.
This is where the price stopped its current uptrend, broke below where there is liquidity that didn't fill, and then continued down.
Now gaps close 70% of the time, so we could get a spike up before the downside. But that would be for a conservative trader.
Other...
Hi guys, this could be a concern.
JSE ALSI 40 has been forming a broadening pattern (Vuvuzela) since 12 April 2023.
Now with these patterns, they can break any direction...
If we make a higher low, the chance of the price breaking up is higher. Then we can expect the price to finally break up and out and head to 75,000 as the first target.
As this is...
NASDAQ JULY
MONTHLY STRUCTURE
OHLC (SELL SETUP)
🔻🔻🔻🔻
The July monthly structure for NASDAQ in 2023 can be analyzed through the OHLC (Open, High, Low, Close) framework. Currently, a sell setup seems to be emerging as NASDAQ's NAs100 index has formed an OPEN HIGH LOW CLOSE structure on the daily timeframe. This structure has effectively rejected prices below the...
Since the last update, Shoprite shot above the neckline of the Inverse Head and Shoulders.
Since then, it's been rocketing to our first target. As long as the JSE ALSI continues its medium term upside and the retailers continue to move up - there is no stopping this one.
Other indicators confirm.
7>21
Price >200
RSI>50
Target remains at R257.00
ABOUT THE...
Right off the bat, I normally get short analyses wrong with USD/ZAR.
But the system is the system, so I have to keep to the rules.
Since the trade hit my first target at R18.90, it's been forming an Inverse Cup and Handle.
Now the price has broken below, which means the USD is likely to weaken from here.
The indicators however are conflicted.
7>21 (about to...
Cup and Handle was the last pattern we used to make this prob prediction.
Lately, we have had the price fall into a Falling Flag consolidation formation.
And the price has already broken up and out of it.
This means, we can expect upside to continue and head to our first target of R66.75.
7>21>200
RSI>50
Target R66.75
ABOUT THE COMPANY
Afrimat Limited...
Inv H&S has formed on TFG. It's not a very attractive one as the left shoulder moved past the neckline.
I call these the Quasimodos of trading.
Anyway, the large downtrend has broken and the uptrend is on its way. So the signs of buying and demand are high.
We have other indicators confirming:
7>21
Price<200
RSI>50
Target 1 will be at R120.00
ABOUT THE...
Falling Wedge formed on Old Mutual and the price broke up and out of the pattern.
Since then it's been going to our first target of R12.61.
It is still on course.
Last few weeks, OMU has formed a W Formation (another breakout pattern). Once the price breaks this one, the next target could be as high as R13.38.
Other indicators confirm upside to...
Inverse Head and Shoulders has formed on the 15m.
Downtrend is also abolished.
We can get a test at the new support before it rallies on up to 71,416.
This might give a conservative entry level for bulls, before the next leg up.
The daily trend however, needs a lot more upside before we get into a Bull trend (but hey it's a start)
Your guess is as good as mine.
One day we are up another is down.
One week is up, one month is sideways.
This is NOT conducive for trending markets.
This is NOT conducive for breakout traders.
This is not conducive for momentum traders.
So we need to wait for a breakout to have a better idea on where it wants to go.
Right now I'm long 8 stocks and short 6...
Inv Cup and Handle formed on S32 and the price broke below.
Not the momentum is picking up and things aren't looking good for it.
We have other indicators...
200>21>7
RSI<50
Target 1 will be at R37.31. But I'll update as we go.
ABOUT THE COMPANY
South32 is a global mining and metals company.
South32 was founded in 2015.
The company was initially a part...
