IVKA trade ideas
Investec INL has retraced sharply from resistance level identified on 20 Sept, primarily on the back of the an update from the company indicating higher costs associated with:
- management actions taken to simplify the business (spinning out of IAM) - weaker investment banking performance in the UK
- uncertainties caused by Brexit,
- weaker corporate environment in South Africa
- A fall in HEPS
We currently trade at support, rebounding with a reversal candle today. Should we see a new print below 7620, it may be an opportunity to trade up to 7980c.
INP - Rapid Moves (Update)We may derive the following from the Daily INP chart:
1. Price absolutely tanked after our initial call (see previous linked post).
2. Price should in all probability consolidate before a potential move down.
3. It's sometimes better to sit back and watch. Wait for a good opportunity.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
INP - Crazy Bull ReversalWe may derive the following from the Daily INP chart:
1. Price has rocketed off our support level. See linked idea.
2. Price is however at our major trend resistance.
3. Monitor price action and look out for short opportunities, should this be a backtest.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
$JSEINP Hourly confirming bearish weekly chart $JSEINP Hourly confirming bearish weekly chart - hourly target = R70.20
INP broken supportAs with JSE:INL , JSE:INP has also broken a support level quite convincingly and could be headed further down.
$JSEINP bearish action continues - confirmed bear flag $JSEINP bearish action continues - confirmed bear flag
INP - Not far from a bidWe may derive the following from the Daily INP chart:
1. Price fell rapidly as previously analysed (See linked idea).
2. Majority of profit can be taken.
3. A bid is likely to occur near the support level (purple box).
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
INVESTEC - About to drop?Looking at Investec, we may derive the following from the daily chart:
1. Price broke its uptrend at the end of June after then returning up higher.
2. Price made a lower high.
3. A double top has already occurred.
4. A move to the downside is probable.
5. As always - maintain your risk management.
Let's see what happens.
Note: The views provided herein do not constitute financial advice.
$JSEINP Rolling over on the hourly - H&S still targets R80$JSEINP Rolling over on the hourly - H&S still targets R80
INP close below supportJSE:INP has closed below an ascending support level. I will wait to confirm before entering a short.
Spike higher offers new shorting opportunity - H&S still in playI used the spike higher today to add to my short (re-enter the half I took off/banked last week)
Banked profit on half & await possible retest of R88I have banked profit on half of my position as the price closes above the 20SMA on the hourly. The gap around R88 also concerns me, as we have also not seen a re-test of the neckline. The trend is still bearish and the H&S still valid. I continue to hold half of my short position and will look to add should we see a re-test of the neckline around R88.
Watch This Week INVESTEC PLCWe have been trending down here as shown by the PIVOTS opening lower each week
This week we are looking at opening higher for the 1st time
This is one to watch
I would trade the breakout and retest of the POC if we break through in the week
Great stock to watch
$JSE-INPJSE:INP
Making inverted head and shoulders with neck line around 9500.
Break above 9500 will target high around 10500.
Harami at ResistanceJSE:INP formed a Bearish Harami at quite a strong resistance. This usually indicates a change in direction, so we can expect a downward move.
Rolling over again on the hourly Rolling over again on the hourly - adding to current short position
Update: After a false break - short idea on track Update: After a false break to the upside - short idea looks on track
