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.
A bullish flag formed on JSE:WHL . The breakout occurred with yesterday's strong upward momentum. If it breaks the levels formed yesterday, we will enter a long position. Target level is at 7280 which hasn't been reached since 2017. Let's see how this one pans out.
It has taken a while, but finally all 3 of the indicators have crossed on JSE:BID . We are looking to ride the move upwards all the way up to the resistance level at around 319.
A long position has been triggered on JSE:BHG . We could see this move go all the way to the target at around the 507 level. Be mindful of the resistance level at around the 460 level.
The anlysis of gbpcad we have to wait, patience and discipline #mondaymoneyday Let's Goooo!
A Bullish Harami has formed on JSE:FSR which is a bottom reversal signal. It has triggered our long position and we have a target at around the 64.40 level. There is however, a gap that needs to be closed at around the 61 level. Be aware of this, as it may close the gap and come down instead of continuing upward.
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...
INV C&H or Descending triangle RSI <50 Wait for the brim level break Bearish bias CONCERNS: The liquidity is low and high volatility which can cause the market to gap 10% on any given day. These are risky assets to trade.
I see a bullish trend reversal and head and shoulders formation pattern taking shape. This is supported by a stronger dollar and rolling blackouts locally, exacerbated by higher local inflation - sentiment is sour. Will add to my TFSA lower down. Let me know your thoughts?
MARKET: Mondi ( MNP ) TYPE: Long (buy) ENTRY: R288.42 STOP LOSS: R264.28 TAKE PROFIT: R324.76 REASON: W Formation Breakout of medium downtrend Moving average 7>21 - Bullish Medium probability trade
JSE:ANH is showing signs of a potential long position based off of our momentum strategy. That means the stochastic has crossed up, the MACD has crossed up and the 3 and 15 EMA's have crossed in an upwards direction.
A bullish engulfing candle pattern has formed on JSE:EXX . This is a bottom reversal signal, so we could see a move up to around the R22 level.
A long position has been triggered on JSE:BTI based off of the turning of the MACD and the stochastic as well as the crossing of the 2 EMAs.
JSE:MRP has triggered a short position. This is based on the stochastic turning down through the 80 line, the MACD going into the negative and the crossing downwards of the two EMAs. We have placed our target down at the 166 level which coincides with the lows of mid July.
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An evening star pattern has formed on JSE:ANG . This is a bearish reversal signal so I think we can potentially see a downward move from here.