An evening star reversal pattern has formed on JSE:ANG which could be signaling a downward move. This signal is strengthened by the fact that it comes right after a doji which is a sign of uncertainty in the market.
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...
A bullish Harami pattern has formed on a string support level on JSE:BTI . Looking for a move up to the R780 level.
A potential short position has triggered on JSE:GLN based off our 3 momentum indicators, the stochastic, the MACD and the crossing of the two EMA's. If triggered our target will be down at the R82 level. This coincides nicely with a strong support level from earlier this year and late last year.
We are looking for a small downward move on JSE:FSR based off of the formation of a bearish engulfing candle on Friday. The short has been triggered and the target is at the R62 level.
The stochastic, MACD and 3 & 15 EMA's are all signaling a long position. With the price action just after opening this morning, the trade was triggered long and we are in the trade. Looking for a target at around the R176 level.
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
A bearish engulfing, which is a top reversal signal, has formed on JSE:PPH . It also looks like the stochastic and MCD and stochastic are about to signal a short very soon too. We are looking for a downward move all the way to the target at around the 21.25 level.
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
A bullish harami pattern has formed on JSE:MNP . A bullish harami pattern is a bottom reversal signal which signals a possible long position. With this morning's movement so far, the order has triggered. We are looking to reach a target at around the 342 level.
JSE:APN is showing downward momentum and could be ready for a short position. The stochastic, MACD and EMA's have all crossed downwards. We are looking at a target for this trade at around the 119 support area.
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.
A bearish engulfing candle pattern has formed on JSE:EXX . This candle pattern also coincides with the top of a downward channel that it has been trading in for the last month. We can anticipate a move towards the bottom of the channel at around the 182 level.