JSE:KIO is showing great upward momentum in the stochastic, MACD and with the crossing of the 3 and 15 EMA's. It has also recently found support and bounced nicely off of the 200 SMA. I think we could see an upward move to at leas the 68000 resistance level, if not higher.
JSE:DSY is showing good upward momentum and is looking promising for a long position. After the EMA's crossed we have had 2 "red days" but is still showing upward momentum. I think we could see a move towards the 15000 resistance level.
JSE:CFR has been trading sideways in a consolidation area since early Jan and it has really struggled to break through the resistance around 15000. With yesterday's price action it broke out of the top of the "buy-box" and it is looking promising for an upward move. This is a new all-time high, so, with no existing resistance in sight, if it continues upward, I...
USDZAR on the 4h chart is testing the support area after the test of the 0.382 Fibonacci level.
According to Plancton's strategy if the price will break below we will set a nice short order.
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Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
• 🟡 Yellow...
JSE:SHP is showing some good downward momentum and we could be looking at a short position. It is currently at a bit of a support level, but if it breaks through, I think we are good to go. The stochastic, MACD and EMAs are all confirming this move.
JSE:FSR is showing a nice Head and Shoulders pattern. If it plays out and breaks through the neckline, we could see a move towards the target at 4200 which is a strong historic support level.
JSE:SSW is busy forming a Bullish Flag pattern. With the breakout of the the "flag" this morning, if it trades higher tomorrow, we could be looking at a nice upward move as high as the length of the "flagpole".
JSE:BVT is showing signs of an upward move after a successful short position. Link below. Based off of the momentum indicators, we could be seeing a move to the upside. I would keep an eye on the trendline that it broke through recently as it might cause some resistance if it reaches that level.
Although the stochastic, MACD and moving averages are all showing signals to go short on JSE:BVT , I am inclined to wait for confirmation of the break of the upward trend before entering a trade.
JSE:CLS is showing signs of upward momentum based on our trend-following strategy. However, it is struggling to form higher highs and break the down trend that it has been trading in for the past month or so. If it breaks this trendline, I will consider entering a long position.
USDZAR after a few tests of the monthly support starts an impulse and currently is consolidating below a minor resistance area.
According to Plancton's strategy if the price will break above we will set a nice long order.
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Follow the Shrimp 🦐
Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure...
After a nice short position, JSE:BHP seems to be struggling to break through the support level at around 42000. If the price action continues upward, I will consider entering a long position. we could potentially see a Head and Shoulders pattern forming in the coming weeks as well.
JSE:BHP has broken through an upward trendline that it has been adhering to since October 2020. If the current candle closes below this line and continues down, we could be looking at a move downwards. Along with this, the stochastic, MACD and Moving Averages are all showing signs of downward momentum.
JSE:SOL is showing all the signs of a direction change based off of the stochastic, MACD and EMA's. I will however, only enter short if it breaks and confirms below the trend line that it has been adhering to since the end of October last year. Once this is confirmed, I think we could see a nice downward move for a while.
JSE:EXX is showing signs of a possible downward move. The stochastic and MACD both turned downwards last week and with yesterday's downward move, the two EMA's have crossed downwards, signalling a short opportunity. We might see some resistance around the 15000 level, but if it breaks through that, we might be able to set our sights on around 13300 support level.
