ABSA @ SupportJSE:ABG seems to be bouncing off of a support level at the moment as well as having broken through a descending resistance. We could be looking at a long move if it confirms.Longby RossLarter3
ABG - CrossroadsWe may derive the following from the Weekly ABG chart: 1. Price is at a major support level. 2. A bid is most likely to occur and buyers may step in. 3. However, a break of the trend is also possible. I would monitor price action and watch for shorting potential. 4. As always - maintain your risk. Note: The views provided herein do not constitute financial advice. Update idea by zeerotrader3
JSE:ABG Absa looks ready to go from hereAbsa seems to have completed a flat correction with a clear ABC structure. A break above the declining trendline could open up a move towards 20000. An entry will be confirmed by a small correction after the initial impulse (retest)Longby TheBrokeTrader5
ABSA on its way upJSE:ABG has broken through a descending resistance and has confirmed the break with yesterday's action. If it breaks through the fractal from the 12th of July's candle, it could mean an upward move.Longby RossLarter5
ABSA Gap Fill and SRLooks good here Wanna see the Volume dry up here and this level must hold but i like this one for a long swing Longby Zabbs3
Bull flag on the Absa Daily chartZAR is strengthening, global stocks are high, tracking the positivity out of the Trump-Xi meeting at the G20; and we have bullish bull flag on the Absa Daily chart. I’m still monitoring for levels, but I’m anticipating a break to the upside. Longby Innocentmaponde2
Re-test gives second opportunity to go longRe-test gives second opportunity to go long Longby gillybloreUpdated 4
ABG out of sideways consolidationJSE:ABG has broken out of the sideways consolidation that it has been trading in. It has also broken through a fractal and is looking good for a long position.Longby RossLarter3
ABSA ShortJSE:ABG has broken out of the symmetrical triangle pattern that had formed. Today it seems to be retracing a bit and you might find that it will bounce off the resistance before continuing downwards. Depending on your risk appetite, you can enter a short right away or wait for a retracement and bounce before entering.Shortby RossLarterUpdated 3
Getting ready to pop higher on the hourly Getting ready to pop higher on the hourly Longby gillyblore2
Let it fall then get inABSA is set to fall a little bit, before it shoots up, so in the mean time we can wait for it to get to the buy zone then we jump inby Mars_African_EmpireUpdated 5
JSE:ABG Absa Bank Ready for a Markup?Absa Bank is looking strong even as the Rand and the JSE are looking weaker. Absa's pears in the Banking Sector are also looking weaker. Absa's relative strength to the Banking Sector is improving. There are a number of indications that Absa is going to buck the trend. The location in the accumulation structure is at a good place to go long. We have seen an accumulation trading range (TR) with a Selling Climax (SC), Automatic Rally (AR), Secondary Test (ST), A Spring, Last Point of Support (LPS) and now a Backup (BU) to the TR. An upward channel has formed and it is now testing the lower trend line which is also the 50 MA and the Yearly Pivot Point. Further, there is a negative divergence with the volume RSI which is a good continuation signal. Volume is increasing on up moves and decreasing on down moves. We need to watch how it reacts this week to the lower trend line and top of the TR to confirm if we are going to get a markup. Longby SteynTradeUpdated 223
AbsaStrong Rand over the last 2 trading sessions helping push banking stocks. ABG is attempting to break to the upside of a falling wedge pattern. We might see a re-test of 2019 highs above R188.by Innocentmaponde4
Absa Group - approaching a bullish break towards R 200.00Absa Group showing positive momentum after testing the R 140.00 support followed by consolidation around the R 160.00.. This reaffirms a move towards R 200.00 over the medium term.. Look to accumulate around the R 170.00- R 172.00 levels. Longby Logaro1Updated 3
Absa Group: Resistance Levels May Halt AdvanceAbsa Group has recently had a solid run, supported by a stronger South African Rand. Now we are seeing the share price run into short term horizontal and channel resistance levels, one that may halt it's advance. The RSI is the most overbought since February 2018 and recently traded above the 70 level while the stochastic indicator prints in a distribution zone. At current levels, traders could look to short/sell the share in anticipation of a move lower. These are the trading levels: Short/Sell ABG above 175.00 Stop-loss: R179.00 (or 2% trailing) Take Profit Target: R163 Shortby LD_Perspectives6
Absa Group - Momentum WaningInteresting candle today on Absa Group (R169.56), potential short setup? - Momentum waning - Price at swing high - Price nearing channel resistanceShortby LD_Perspectives2
ABG - Bullish EngulfingWe have entered a long position on JSE:ABG because of a bullish ngulfing pattern tht has formed. Although there is not much history on this instrument, it is also at a support level which solidifies the signal.Longby RossLarterUpdated 4
Looking for a bounce on ABGJSE:ABG has been trading in a channel between R170 and R146.50. It is currently heading to the support zone at the bottom of the channel, and we expect a bounce and a move upwards towards the top of the channel. The stochastic is confirming this as it heads to oversold territory with the expectation of turning up. Longby RossLarter3