It's been a trying time for Naspers Media company. Since January 2023, up until October 2023. The price has moved in a sideways range and has failed to break either way. That was un 18 October 2023, where the price pierced through a solid neckline of an M Formation, Since then, it's entered into bear market territory along with the JSE ALSI 40. The signs...
Hyprop Analysis: Charting the Course to a Price Target of 26. Hyprop Investment Ltd 1. Price Formation: The price has previously broken out from a Reverse inverted Cup &Handle price formation on a daily chart and hit a target. Bearish sentiment. 2. Moving Averages: The 7-day moving average (MA) is below the 21-day MA. 3. 200-day Moving Average is above the...
See link below for previous analysis. Merafe is still trading within the 146-104cps range and the sideways consolidation can evolve into a triangle pattern. I am changing my stance from bullish to neutral until price gives clarity with a break above 146 or below 104.
Woolworths stock had a good run from March 2020 to Feb 2023, peaking at 8047cps. What followed was a strong correction to 5824 and a rally just above the previous peak to make a slight new high at 8113. This "twin peak" could potentially be a double top formation with a neckline at 5824 or a flat correction. With the stock trading in the middle of support (5824)...
MTN hovering around 90 which is another important level of support. Facing a couple of challenges, like MTN Nigeria and the Israeli war, the price has some work to do. Possibly oversold in the short term, we could see a relief rally from this 90's area, or the price could stabilise and consolidate. Potential upside target is 109 and should the stock weaken...
After going ex-div and dropping to a low of R 9.14 a relief rally is possible here to test the down trending 20/50ema This is a counter-trend trade (reversion to the mean) MACD crossover RSi divergence Falling wedge breakout Stop-loss below swing low R9.14
We sent out a trade analysis on Bell Equipment. It formed a W Formation and I said the journey can be a long one as the main market remained sideways throughout the year. Then in September after consolidation, we saw another breakout pattern showing more upside to come. And since 11 October, the momentym has just been on the up. My first target remains at...
We stated that since the price broke below the 200MA, that we entered and have remained in a bear market. And during bear trends, the market tends to zig zag along the way with strong downside pushes... Right now, the price is heading up to retest the most recent resistance. This is normally, where traders and retail traders will buy in and believe the market...
A price action above 29600 supports a bullish trend direction. Increase long exposure for a break above 31300. The target price is set at 32500. The stop-loss price is set at 29400 (its 38.2% retracement). Broke above its 200-day simple moving average, as well as testing its 200-week simple moving average. Rebounded from the lower range of the inclining channel...
Kumba Iron Ore TA, Looking for EMA's Crossing Clue. Cup & Handle seen. A little Bullish action also. However - with these unpredictable Commodity Markets, it's unwise to make any call as to future price action. I managed to get a small position at R400. We all wait for a possible turn-around. Use Stop Loss Orders. Regards Graham.
A price action above 2040 supports a bullish trend direction. Increase long exposure for a break above 2120. The target price is set at 2200. The stop-loss price is set at 1990, which is also the 23.6% Fibonacci retracement level. Remains above its 200-day simple moving average.
A price action above 16800 supports a bullish trend direction. Further bullish confirmation for a break above 17600. The target price is set at 18200, its 38.2%) Fibonacci retracement level. The stop-loss is set at 16600. Testing also its 200-day simple moving average. The declining channel pattern's upper range is also being tested. Remains a risky trade.
Renergen (REN) describes itself as an "...integrated alternative energy business" which invests in renewable energy projects in Africa. The company listed on the JSE in June 2015 and has been losing money every year since. This is reflected in its falling share price. The company is investing in liquified natural gas (LNG) and helium. Now it is planning to list on...
Sasfin (SFN) is a banking group that specialises in various types of finance for small businesses and high net-worth individuals. It was listed on the JSE in 1987. The company has been investing heavily into its digital platforms and into acquisitions. The share was in a strong downward trend and we advised investors to wait until there was a measurable turn in...
The stock has had a rough 2023 dropping now 56% from its peak in late February. The reversal of a false breakout can be vicious as witnessed and it's been one way traffic to the downside ever since. There is no need to try call a bottom until a previous support is reclaimed or the chart structure develops.
In this follow up of the original chart here on 24Aug23, we see that #Sasol has now made no less than four attempts to conquer the neckline of the Head & Shoulders pattern, yet still unsuccessful. What might be a bearish flag pattern is also now getting fairly long in the tooth and perhaps a resolution one way or the other cannot be far off any more.
Trading at a key level + Early Signs Of Stabilization And Potential Recovery? My view is that diagonal trend lines are LESS reliable that horizontal trend lines, however, here is a view to consider. The share is trading at the lower boundary of a multi-year channel which extends back to the lows of March 2020.
Afrimat (AFT) is an open-pit mining company that supplies composites, construction materials and other commodities to a range of industries in Southern Africa. Until the end of 2015, Afrimat was one of the best performing shares on the JSE. The share broke up out of a 3-year sideways pattern which included the COVID-19 crisis. It rose to a peak of R76 on 6th April...