JSE:CLS is trading at a significant resistance level at the moment. It will most likely not break through this level. The stochastic indicator is looking like a turn downwards is imminent as well.
If this level is broken and a higher high is confirmed, we could continue with the strong momentum in an upward direction.
We will just have to wait and see which...
Short/Sell at current levels 21725c or higher
Take Profit Target: 21000c
Key Technical Drivers: In upward trend for 16 sessions; Trading near resistance; Rand/Oil Price higher which is negative for retailers.
As the price is approaching the minor resistance, I am looking for price to reject and drop back to R163,46 for buying opportunities. it is possible for price to breakout on the first approach. if it does breakout the analysis is still valid based on retest.
$JSEGRF looked to complete a C&H formation bt failed as the handle was not formed fully. Share price broke a falling trend as it looks to attempt the set up yet again.
I am watching the 88 (falling trend line tuned support) and 90 (MA). For the set up to be complete, the price needs to take out 108/9 and hold above.
On watch list for now.
Intu Properties (Last close: 817c)
Buy at 825c or better
Take Profit Target: 990c and 1080c
Key Technical Drivers: Triple Bottom Formation; Break above resistance; 2nd biggest volume day in the last twelve months; RSI and Money Flow in bullish trend
Improving technical trend score according to our property technical analysis methodology.
The idea is regarded as a counter-trend rally as the overall trend remains bearish. Apply proper risk management and adjust risk accordingly.
Crossing above its 8-day simple moving average.
Crossing above its 13-day simple moving average. First signal in the last 20...
Short/Sell Harmony Gold (HAR):
Relative Strength Index Printing a bearish divergence from an overbought level
Extended 89% above it's 200-day moving average
Stochastic trading at an overbought level
Sell HAR at 5453c (or better)
Take Profit Target: 4750c
Delta Property 24
Pan African Resources 27
Gold Fields 30
PSG Konsult 32
Telkom SA 32
Wilson Bayly Holmes-Ovcon - WBHO 83
Pioneer Food 82
Capitec Bank 78
Investec PLC 78
Spending some time on Goldfields. How quickly a share can go from hero to zero. A month ago, GFI was still trading at the top of the “OVERBOUGHT” list, just...