Although not confirmed yet, JSE:RNI is looking like we could be in for a downward move sometime soon. The MACD and EMA's are yet to confirm to the move, but the price has broken through the 200SMA which could indicate a change of trend. Keep an eye on this for confirmation of a short position.
JSE:KIO seems to have failed to make higher highs around the resistance level of 66000. It also formed a shooting star reversal pattern two days ago. This, coupled with the turning down of the stochastic indicator could mean we are in for a downward move.
After a nice move towards the bottom of the channel, JSE:CLS has bounced off of the bottom again and looks like it may be heading to another test of the top of the channel. It has been bouncing around in this channel since July 2020.
A Bearish engulfing candle formed on JSE:SHP on 17 Feb. This was followed by a cross of the EMA's and the MACD. All of these indicate a change of momentum and we could be seeing a move to the downside. There is a gap that formed in September last year that we ight be looking to fill, failing that, it might find some support at the top of the gap.
Although it is trading in a channel, JSE:CLS is showing some downward momentum. It may very well bounce up off of the bottom of the channel, but if it breaks through, I will enter a short position. Beware of the 200SMA, though, that may act as a support level.
JSE:ABG is showing some downward momentum based off of the stochastic and MACD turning downwards and now the 3 and 15 EMA's crossing downwards. I am looking at a short position to at least the 11250 support level.
XAU/GBP is on the rise. Weighing down on the pound against commodity driven markerts like the Ozzy, the KIWI, Looney and ZAR.
Look to sell to the demand zone at 1.74624
At the moment, we are in a strong impulse wave (down) and we expect a pullback to the upside. Giving us an opportunity on TUES 23rd FEB 2021 to catch it at a discount.
Watch how candles close...
Here we see KAL's descending channel breakout accompanied by an ABC correction. A little late on this one but aiming for the target at the previous high for a 70% estimated appreciation.
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It looks like there is a change in direction on the cards for JSE:DSY . Although not confirmed yet, it is looking like it's only a matter of time before the MACD and the EMA's confirm the downward move along with the stochastic.
JSE:BID is trading at a very strong resistance that has been held and tested multiple times since 2016. My logic tells me it won't be able to break through and will bounce down again. If it does this and comes down, I will consider a short at the 27700 level. Alternatively, If it breaks through and continues up, we will likely see a nice strong breakout to the upside.
JSE:PPH is currently struggling to break through a resistance level that goes all the way back to December 2017. If it doesn't break through and goes down, I will wait for it to break through the support level of around 1450 before entering short.
After a nice downward trade, JSE:AGL seems to be reversing for an upward move. Our momentum indicators, the MACD, Stochastic and 3 & 15 EMA's are all confirming this possible move.
I will be looking at 60000 resistance level for a target.
JSE:OMU broke the significant resistance level of 1350 yesterday, which it has ben struggling with since about April 2020. It is showing some nice bullish momentum and I think we can possibly be looking at a move up to around the 1650 level and possibly beyond in the longer term.
After a nice upward move all the way from late November, JSE:EXX is now showing some strong downward momentum and we could possibly look at a short position. The three main momentum indicators we use, the MACD, Stochastic and EMA's are all confirming this momentum.