Above 199200 supports a bullish trend direction.
Trend strength indicates a strong trend gaining strength.
Fading downside price momentum (see the lower panel) supports the bullish bias.
RSI leaves enough room for further upside price potential.
At the lower range of the Bollinger Bands. This increases the likelihood of a pullback.
Capitec is looking rather weak at the moment after a climatic top formed at the 2195.00 area.
A pullback to its long term trendline around 1845.00 could provide a good buying opportunity if one is patient.
*Disclaimer* - ideas shared in the above is for educational purposes only and IS NOT trading or financial advice.
Shorting CPI always remains very risky.
The price action is at the upper range of the linear regression channel pattern.
This increases the likelihood of a mean reversion trade.
The angle of the trend is also too steep at a 57-degree angle.
A 45-degree angle is regarded as healthy and hence a correction might occur.
The price action is also overbought.
Downside...
JSE:CPI has tested a trend line multiple times since last October. It is currently bouncing off of this line again and we could see an upward move if it doesn't break through downwards. The stochastic and the MACD are both confirming this momentum. The EMA's briefly crossed yesterday, but have since uncrossed again. If it breaks above yesterday's levels, I will...
Personally I don't get why the stock made these extreme new highs but fortunately, we trade what we see and not what we think. SO "technically", the price has breached the 50 day moving average and is making a second attempt at breaking the new short term support at around R1734.00. A convincing breach and close below this level sets up much lower targets for the...
Last year, on the 14th December 2020 we wrote an article about our Investment Club software and our in-house company portfolio which we run on that software. As we said in that article, running this portfolio has proved to be a highly motivating exercise for our staff.
Since 14 December last year, there has been just one change to the portfolio, when the Clicks...
The stock came back into the lower box but stayed at the top of the box. Buyers look like they are still coming in. If the stock breaks back to the higher box and closes back above the R1875.38 record high close. The stock made a new highs as it moves back to a higher box. DOing all this on rising volume which is encouraging
Capitec Bank (CPI, 170863) | My most recent long idea was from R1499 on 05 May with the target of R1700 reached on 02 June. I'm not recommending a long here but having reviewed the weekly chart in recent months, I've noticed an inverse head and shoulder technical formation that has developed, with both a breakout and a back-test that held during mid-July....
JSE:CPI looks like it may be gearing up for an upward move. After a recent pretty successful Cup and Handle pattern it has retraced downwards to the top of the cup, tested that level and then bounced back up again. If it breaks above the high created on Friday, I think we could see it moving upward to at least the highs of mid-June, if not higher.
CPI has made a huge move since the break of its bull flag. But it should remain on the watchlist should it start to go sideways or form another bull flag. The other big 4 banks made some serious moves on Thursday/Friday while CPI had a seller.
- Currently fluctuating around R1592-R1594
- After my 05-May idea to buy, CPI is higher 6.2%
- From my initial, 29-March idea, it is higher by 14.8%.
- The price action remains strong, but for conservative traders: Reduce some of your position at these levels.
29/03 idea (trading view link):
05-May idea (trading view link):
