After a very successful short position, JSE:BVT has broken through a descending resistance level/trend line and could possibly be changing direction, which is being confirmed by the stochastic as well. If it confirms after today's price action, I will consider entering a long position.
JSE:NPN has a bullish engulfing candle at a support level which could indicate a turn upwards. The stochastic is also confirming so we could be looking at a long position.
JSE:NED failed to break below support with yesterday's price action. It seems to be forming a bullish harami at the moment, but we'll have to see what happens towards the end of the day. If it doesn't break lower, I will consider a long position.
JSE:MRP has entered into a gap that was formed on 21 November. As we all know, the market likes to close gaps, so we could see a small downward move towards gap close.
JSE:ABG is trading at quite a strong support level. If it fails to break through and bounces off support, I will consider entering a long position. The stochastic also looks like it is gearing up for a turn.
Alternatively, if it breaks through support and forms lower lows, we could be looking at a short position.
JSE:SLM has broken through and upward trend as well as a fractal level and is busy forming lower lows which could be a sign of trend reversal. It is looking good for a short position with lots of downward momentum.
JSE:BHP has broken upwards through the triangle I mentioned in my previous idea. Couple with this, it has broken a fractal level, so I am entering a long position.
JSE:SGL has formed a bearish double top. It is still quite a distance a way from confirming the signal, but let's keep an eye on it for when it does confirm the short position.
JSE:BHP has formed a symmetrical triangle chart pattern. This is a neutral pattern, so it isn't indicating an up or down move as of yet. Once it breaks through either side, we will be able to enter a trade. Let's keep an eye on it for now.
JSE:SPP has, with today's movement, broken through highs that it has struggled with three times in the recent past. If it closes above thes levels and confirms a higher high, we could be looking at a nice upward move.
JSE:GFI is bouncing off of a trend line that it has tested a couple of times in the past. The stochastic is confirming the turn around, and if the price action confirms with today's close, I will enter a long position.
