According to our momentum strategy, JSE:ABG long position has triggered with today's price action. It has retraced a bit throughout the day, but it should continue in an upward direction with this momentum.
Falling Wedge formed since 1 Feb 2023. Only yesterday, we had the confirmed breakout showing strong buying and demand. Price>200 Bullish RSI >50 Target R63.69 SMC Below the Wedge we have Sell Side Liquidity Order block. Where Smart money is buying where retail were selling. This gives a strong signal that high buying volume was trumping selling. Very bullish...
Falling Wedge has formed on Aspen. The price has broken out and looks like it's set to rally. A conservative trader could wait for a retest, or an impulse trader could trigger it now. 7>21>200 -Bullish RSI >50 Target - R194.76 SMC: Sell Side LIquidity Smart Money buys into positions (and sweeps liquidity) from traders who are long (get stopped) and for...
Head and Shoulders formed on SHP. It broke below the neckline and now its been coming down on the downtrend. We can expect the bounce up, before the downside. 200>21>7 - Bearish RSI<50 Target R177.11 CONCERNS: The JSE ALSI is setting itself for upside due to the Symmetrical Triangle. This might cause a disturbance in shorts with retailers but right now the...
JSE:KIO has broken out of a descending triangle pattern and has triggered our long position. Target is at the 560 level with a stop loss below the base of the triangle.
JSE:FSR has triggered a long position using our momentum strategy. Target is around the 67 resistance level.
JSE:DSY is looking good for a long position. the stochastic and MACD turned upwards a few days ago and now finally the EMAs have crossed upwards, confirming the signal. If it trades higher than it currently is, we will be entered into the trade.
JSE:AGL broke out of a long term descending triangle and has triggered our long position with today's price action so far. We are looking at a target around the 664 area with our stop loss just below the bottom of the triangle at around 538.
Symmetrical Triangle seems to be forming on the JSE ALSI 40. This is where price constricts into a triangle that is not facing up or down. We now need the price to break above the Apex, which will send the price higher. The beauty about Symmetrical Triangles, is that they are generally continuation patterns to the prior trend. With the up flag pole before...
It was written in the charts. The USD ZAR formed the Symmetrical Triangle on the daily. The price consolidated and squeezed until it reached the Apex. Then because the prior trend was up, the breakout was up and lead to a continuation in the trend. The price then went to a dire R19.80! Let's hope it forms a Buy Side Liquidity order block for Smart Money...
After a horrific crash from R4.22 down to R1.73. There seems to be a consolidation range at the moment forming the next Head and Shoulders. The right shoulder is not fully ripe yet, so we can expect a blip of upside to form the RS. Once the price breaks below, then we'll see the next leg down. Indicators are confirming downside to come inc. 200>21>7 -...
Inverse Cup and Handle formed on Spar and price broke below the brim level. This sparked fear and lead to a ton of selling and supply. We had other indicators confirm for the downside to come. 200>21>7 RSI<30 And yesterday, the price went down 15% striking right through the target at R103.61. Smart Money Concepts Above the handle, formed a Buy Side Liquidity...
Inverse Reverse C and H has formed on Life Health. The price did close below the brim level which also happened to be on the 200MA. This is a big test for the company. Once the price breaks below 200MA, there is a high chance of it closing the gap and dropping further. 21>7 Price -200 - Test RSI<50 - lower highs Target R16.23 It is a medium probability trade...
Inverse Cup and Handle formed on Tigerbrands. We were waiting for a break down out of the brim level, but alas we never got the entry level. Instead it gapped down and is already on its away to the target. It was a missed opportunity but we couldn't do anything about it. 200>21>7 RSI<50 Target R134.44 SMC: Buy Side Liquidity Order block formed above the...
Medium term downtrend has been evident over the last couple of months. It's been a haven for trend traders. These are the ones that go short and trail their stop losses as the market goes further down. 200>21>7 RSI<50 Target R68.45
Since the last trade update, SHP has been on a strong trajectory down. It formed a large Head and Shoulders on the daily chart which then the price broke below the neckline. We had other indicators confirming downside including: 200>21>7 - Bearish RSI<50 The target remains at R177.11 With fundamentals, I don't have much to say except the negative effect...
Reversal Diamond Formation formed on the Daily chart. This formation is a normally a big fight between the bulls and the bears. Once the price breaks below it, sets the bar for the next momentum slide. Which in this case was down. We had other indicators confirming the downside to come including. 200>21>7 _ Bearish RSI <30 - Bearish And our first target...
M Formation formed on the daily with Barloworld. The price broke below and this tells us the supply (selling) is stronger than the buying. We have other technical signals confirming the downside momentum. 200>21>7 - Bearish RSI <50 - Lower highs Target R64.17 SMC Above the second rounding top is a Buy Side Liquidity Order Block. This is where Smart Money came...