A conflux of technical indicators supporting a bullish bias. The blue line on the main chart is the lower two standard deviation range. Increasing probability for mean reversion. Breaking its 8-day simple moving average. First signal in the last 21 days. Breaking its 21-day simple moving average. First signal in the last 19 days. MACD bullish crossover. First...
The first entry at the break with a tight stop for a great RR. Target around the 18210 area. Will be scouting the smaller time frames for more long entries.
JSE: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.
We 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...
Absa 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)
JSE: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.
Looks good here Wanna see the Volume dry up here and this level must hold but i like this one for a long swing
$JSEABG Hourly flag targets R190
ZAR 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.
Re-test gives second opportunity to go long
JSE: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.
JSE: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.
Getting ready to pop higher on the hourly
ABSA 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 in
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...