Shoprite has been weaker than the market and continues to decline. Looks like 2020 will continue this trend. After a backup to the trading range (TR) after the breakout price is going on to the markdown phase.
After a short but high volume accumulation price has broken higher (see posts below). A low volume back up (BU) price is now ready to be marked up further. The relative strength to the Top 40 has turned positive and there is divergence with the volume RSI confirming the markup.
Sasol has been week and recently broke out of a long term trading range (TR). However, more recently an accumulation TR has formed that could take us back to test the long term TR. We have backed up (BU) to the accumulation TR and I am now looking for a break higher back to the longer term TR.
Goldfields was in a re-accumulation trading range for the second half of 2019 and is now pushing higher. There is major signs of strength (SoS) and the markup is set to continue.
DRD Gold has attracted buyers attention. Good volume has quickly pushed price and after a pause at the end of 2019 it is again breaking higher. Waiting for a test of the breakout level to catch the markup higher.
The JSE Resources Index has been steadily trending higher since 2016. After a pause at the end of 2019 it is again breaking higher. The break has come on low volume over the holiday season but could push higher quickly as volume returns to the market.
Updating the previous post at the start of 2020 (see below) has not changed my evaluation that the JSE Industrial Stocks are being distributed. The relative strength to the Top 40 index is declining an we have seen some signs of weakness (SOW) and inability to rally. Will be watching the start of 2020 for the start of the markdown.
Using the Satrix Fini as a proxy for the financial index we notice that we are at an important decision point. There has been a declining interest in buying the index. Buying volume in 2016, 2017 and 2018 has failed to push the index to new highs and in 2019 volume has been low. Price has reached the long term oversold trend line and a break lower could open...
Hello Traders! Today’s chart update will be on EOSBTC with a potential daily trend change coming to fruition. There are key levels that must break for further confirmation on a bullish bias. Points to consider, - Trend putting in higher lows - EMA’s turned support - Local resistance being tested - Volume declining - RSI approaching resistance...
Hello Traders! Today’s chart update will be on XRPBTC that is putting in a probable higher low on the daily chart. This will increase the probabilities of a trend change, a confirmation will come to fruition when structural resistance is broken. Points to consider, - Trend change – Higher low - 200 MA to break - Stochastics neutral - RSI coming of oversold...
$INPX Has taken off quite nicely the last few business days and hasn't shown any signs of slowing down. The Palo Alto company which owns numerous subsidiaries and patents owns patents to a technology that will revolutionize indoor spaces. The company has a tech that integrates outdoor GPS systems with its indoor positioning system that maps out Geospacial context...
Hello Traders! Today’s update will be on BTCUSD which is in a defined down trend; Key levels needs to be watched for the direction of the overall trend. Points to consider - Trend bearish; Consecutive Lower Highs - Structural Support holding - Key resistance to break - Stochastics in lower regions - RSI neutral - 200 MA to break - Volume Declining...
Hello Traders! Today’s chart update will be from the Canadian MJ sector – ACB which has recently had a bull reaction from local lows. Will ACB have enough momentum to break key levels? Points to consider, - Trend Bearish – consecutive lower highs - Local resistance to break (.382 Fibonacci level) - Stochastics in lower regions - RSI coming close to apex...
Hello Traders! Last Day of the decade! Bring on 2020! Today’s chart update will be on LTCBTC which has broken a key technical level and has consolidated- S/R Flip. A confirmed trend change will come to fruition when structural resistance is broken, Points to consider, - S/R flip - Strong structural support - Strong Resistance to break - RSI respecting...
Hello Traders! Welcome to another update, Today’s chart update will be on ETHBTC which has put in a potential new higher low, possibly changing the overall bearish trend. Points to consider, - Probable trend change coming to fruition - Local support respected - Local resistance yet to break - Stochastics in lower regions - RSI hitting resistance - EMA’s...
XMRUSDT has broke a good resistance that opened a good buying potential trade with the forecasted target above and with real time target using our indicators . indicators used : AZV Volume Power Volume Analysis
BINANCE:LTCUSDT has broke good resistance and there is a potential buy trade in here with the target shown above on the chart or with an open target using our own indicators . Indicators used : AZV Volume Power Volume Analysis Tool - VAT
Hello Traders, Quick Update Today’s chart we be on BTCUSDwhich is testing a critical support level Points to consider, - Trend bearish - Major support being tested - Stochastics in lower regions - RSI approaching oversold - EMA’s giving price resistance - Volume needs to increase BTC has put in consecutive lower highs with no clear sign in trend...