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...
Balwin Properties (BWN) is a developer of secure sectional title properties in South Africa. The company is now turning its attention to renting out some of the properties that it develops to improve its income. The company reports strong demand for its units and is also moving into supplying solar power and internet fibre. The share was listed 5 years ago at R10...
Clicks (CLS) describes itself as a retail-led healthcare group. It incorporates Clicks, GNC and The Body Shop. Clicks has 782 stores of which 585 include pharmacies - which makes Clicks the largest pharmacy chain in Southern Africa. Although more retail outlets are installing pharmacies in their shops, the listed Dischem is Clicks main competitor. Probably the...
NuWorld (NWL) is an importer and exporter of a range of Consumer goods, especially, consumer electronics, appliances, and consumer durables. Its product range includes agencies for Telefunken and JVC as well as a range of vacuum cleaners, fans, large and small appliances, cell phones, heaters, and liquor. The share has been listed on the JSE since 1987 and has...
JSE:PPH found support around R9.60 in mid 2020 and went on a rally to retest the R27.40 highs of December 2017, effectively closing the first week of November 2021 with a shooting star after being pushed to the downside from R27.59. Price has been on a downtrend since then and is currently in a corrective phase in the form of a bearish flag, taking a potential...
Huge Head and Shoulders Pattern Identified by Source_Sailor & Woodcutter. Thanks to the above analysts. I've simplified the Chart to LINE to show the Pattern. This now could be a reason why this Stock is playing out as seen. There must be some other Fundamental reasons for this. I hope the Pain is short lived for those in this Long, as I am one. Regards Graham.
Transaction Capital has had a tough year. Between the CEO stepping down and with the market being in free fall. In September the price made a Breakway way, this signalled more selling and supply to bring down the price. Now we have seen a slight recovery pattern (Cup and Handle). This shows that the price is going to head up to fill the gap at around R6.88....
M Formation formed on Renergen. The price came down and hit the target at R9.33... Now we had a bfreakway gap with testing at the low, which shot right back up. This is showing there is more buying volume coming in. However, we aren't seeing any strong bullish signs yet. I think the price needs to consolidate and form a higher low, then we will have some form...