Clicks has forever been a darling of the JSE. After over a decade of steady gains, the share is starting to show some cracks. From mid-2018 to just recently, price was trading more choppy and contained in a ascending channel. Price has recently broken and closed below the lower support trendline of the channel indicating that the bears have wrestled control. More...
CLS is now trading well below its one year moving average and has broken well below its major 500 day support at the R269.00 level If bulls do not regain this support , likely targets for a further move down will take CLS to retest the R238 level
clicks is reporting its earnings soon and it has been trading in a consolidation for a while
Clicks is in a bearish trend with price restricted by the resistance line. The expectation is for price to continue trending down & break below the lower support line. At the same time RSI 14 (not shown here) should reach oversold conditions & turn upwards. If price goes below 26 September low then the major trend becomes bearish. After price makes a swing low...
For long term traders/investors, the share's proximity to it's 200-week simple moving average is a factor to note: (1) While the price has made higher highs over a 4-year period (vs it's 200w), the DISTANCE vs the 200w has showed negative divergence by making lower highs. This is often a precursor to a breach of the 200w. (2) The distance vs the 200w is narrowing...
All three momentum indicators have crossed downwards on JSE:CLS signaling a short position. Our target is around the 264 level.
JSE:CLS has been trading in a sideways consolidation zone since early May. With the price action on the 16th of Aug we finally broke out of the sideways move. If it continues up, I think we could be looking at a nice long position.
CLS forming a tight symmetrical triangle pattern which should lead to a breakout soon
Pairs trade ide: Buy CLS vs Sell SHP (market neutral idea) A price action that retracted from oversold territory supports the trade idea. Furthermore, moving upwards from the lower range of the Bollinger Bands. A price action below 1.2350 acts as a stop-loss. Entry range: 1.2515 to 1.2855. Profit target: 1.3530.
The lower panel indicates a potential volatility squeeze. Expecting the break to be to the upside. A price action above 27400 supports a bullish trend direction. Crossing below this level will negate the positive stance. Further trend support above 28100. Consolidation range between 27900 and 28700. Crossing above 28700 might target 30100. Crossing below 27900...
CLS weekly hitting support at R270. If a bounce takes place my first target will be R285 and second target R295. Trade ideas are my own and not financial advice.
Slow stochastic bearish divergence Stop loss: R298.29 Take profit: R285.03 Risk/Reward: 3.7 *No.1 Manage your Risk*
A bearish trend direction is applicable below 1.5000. Crossing above this level will negate the bearish trend direction. Downside price momentum supports the bearish trend direction. M-top pattern might result in further downside potential. Might encounter support around the 200-day.
JSE:CLS has broken out the bottom of a symmetrical triangle patter. This breakout along with the signals from the EMA's, stochastic and MACD could mean we could see a nice downward move for a short position.
JSE:CLS is trading in an upward channel and has recently bounced off the bottom. Based on momentum indicators, it looks like it could be gearing up for a nice upward move towards the top of the channel.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
Following the recent candle character change (comment published and attached), CLS started find a decent bid and hit the 30793 upside level previously marked. That level was hit yesterday and today we saw another test with the level being rejected again. For more insights and real-time ideas, get in touch today.
Relative to the period 27-Sept to 18-Nov, CLS may be undergoing a "character change" - see shaded areas on daily chart. Monitoring lines A_B as a clearance zone. *This is not a trading/investment recommendation*.