Since the last update, TCP has been making higher lows - but on a very slow inclination basis.
Nevertheless, as long as the lows hold we can hopefully get some buying into the company.
The models are strong, the strategy is good and the competition is low. It's sad to see it fall like this.
In the last analysis I mentioned, Sanlam was forming a falling flag.
That was for the buyers and sellers to balance based on the previous phenomenal growth it had.
Since then the price is above the Falling Flag ad is showing even more upside (passed my target).
But we will be generous and do another analysis if it surpasses the first place....
W Formation & Ascending Triangle has formed on the daily time frame.
There is an impenetrable resistance right now at R318.00.
Once we break above it, it could be a fantastic trade for upside.
Until then, we'll add it to our watching and waiting list.
7>21>200
RSI>50
Target R364.88
This one is tricky and I'd consider a medium to low probability trade.
Aspen has just had a few days worth of bearish candles. Strong selling has clearly taken place.
During the time, it's formed an M Formation.
The price has broken below the neckline however there are danger signs that it might not work out.
1. 7>21 - Bullish.
2. Price >200 and needs to...
Diamond Formation has formed since September 2022.
This is a weekly chart because MTN is by far the most difficult market to analyse.
It is famous for moving sideways for extended periods of time. Then it eventually breaks out and moves in a trend for a short but powerful period.
This is only a market for trend traders who wait for the big move.
Or for range...
Previously we saw the price break above the Inverse Head and Shoulders.
It was short lived and the price came back down to the support (which was a resistance).
Now it's testing the uptrend and the 200MA.
If the JSE continues up, then it should bring up the price which will give us a conservative...
7>21>200
RSI>50
Target remains at R340.76
Initially, I wrote that we could expect a break to the downside where there'll be a better entry for a short.
But the entry price never struck and the price turned up intot he channel.
Price is now breaking above the down channel, indicating a chosen direction - Up.
Other signs show some upside
7>21
RSI>50 - Bullish
Target R226.76
WARNING
I'm not too convinced...
W Formation formed on Grindrod since March 2023.
And the price has finally broken above the neckline.
This gives a decent signal that there is upside to come from the buyers.
Other indicators confirm too:
7>21
Price>200
RSI>50
Target 1 will be with a Risk to Reward of 1:2 at R12.60
ABOUT THE COMPANY
Diversified Group:
Grindrod Limited is a South...
Since the Inverse C&H, the price broke below the brim level and since then has been on a downward trajectory.
The downtrend, was the other confirming indicator that this was about to drop.
I definitely didn't expect the drop to be short and explosive, but for a trader it's always better to be in and out.
Now, there will most likely be some chop in the...
Inverse Head and Shoulders formed on Clicks.
The price broke up and then there was a consolidation to the downside forming a somewhat Falling Pennant.
During this time the price bounced off the 200 MA and the uptrend.
This coonfirms the upside will continue along with other indicators.
7>21>200
RSI>50
Target remains at R340.76
Box formation formed after a couple of months and the price broke above the resistance.
Since then it's been on a solid uptrend with a good inclination.
The price has also broken above the Falling Pennant which is confirming the buyers are driving the price.
We have additional indicators showing upside.
MAs - 7>21>200
RSI>50
Target R191.31
Bullish
W Formation has formed on Nampak.
The price has broken up and is showing it's reached a bottom and buyers will start piling in here.
Otehr indicators confirm.
7>21 - Bullish
Price>200 - Bullish and it's the first time in MONTHS since we've seen the bull crossover.
RSI>70
Target 1 will be to R494.59
ABOUT THE COMPANY
Packaging Solutions:
Nampak is a...
Box Formation has formed on TCP.
We are still seeing low liquidity and low volume of trades as I believe the bulls have been scared out of their position.
However, we are seeing potential signs of a bottom as there could be more buying to push the price up.
Other indicators show including:
200> 7=21
RSI>50 higher lows
Target one will be to the top of the...
M Formation has formed on the JSE ALSI 40.
While the SP500, Dow Jones and Nasdaq have been going up this year, it strangely looks like the JSE ALSI 40 has broken it's correlation.
Not only has America NOT been leading the JSE, it seems like the problems (economically and politically and socially) are showing signs for the country.
Now, either we get another...
Rev C&H has formed on the USD/ZAR.
If we get a slight retracement back it could be forming a Right shoulder to an Inv H&S.
Regardless, this looks bearish for the ZAR and bullish for the USD.
Other indicators are showing upside to come for the greenback.
7>21>200
RSI>50
Target 1 will be R21.72. Ouch for the rand.
The government and load shedding is really...
Symmetrical Triangle formed on ALSI and the darn price has just been moving within it for months on end.
Any JSE short term trader is most likely struggling with the whipsaws.
If one is not diversified in Forex or Indices - I don't know how they are making an income this year.
Regardless, the price has broken below the triangle and below the 200MA for the...
Head and Shoulders has formed on Absa Bank Group
It looks like after the rally, the price wants to come down a bit and retest some of the lows.
As the JSE is in a turbulent stage, anything can happen.
200>21>7
RSI<50
Target R155.68
Cup and Handle has formed on Merafe and once again it looks like it's going to head to the top of the channel yet again.
Also results have come out beating expectations by over 30%.
We have other indicators showing upward momentum including:
7>21
Price<200
RSI>50
Target R1.47
