We may derive the following from the Weekly NED chart: 1. Price has back tested the main trend line and failed to move back to the upside. 2. Price now appears to be completing a correction. A break should result in further downside. 3. Monitor price action and be patient before trading. 4. As always - maintain your risk. Note: The views provided herein do...
We closed above the weekly tenkan. Failed to actually cross it, indicating bearish weakness. Two weeks ago on the weekly we had a convincing bullish candle which pierced that same tenkan,so a test of that break was coming and we seem to have got it this week.That bullish weekly candle also confirmed a higher high after reaching a low mid August. This could be a...
JSE:NED has formed a bearish harami at a strong resistance level which it has failed to breach. It is looking good for a short position with the stochastic confirming. If it breaks through yesterday's low, I will enter a short position.
Nedbank has been steadily increasing but after breaking the upward stride and breaking below the key 25000 level it seems that there is some distribution taking place. In the distribution, we see increasing volume on the declines and decreasing volume on the increases. Volume spikes are at the peaks. Looking for some markdown to take place.
JSE:NED failed to break through a resistance level and seems to be bouncing into a downward direction. If it confirms, I will enter a short.
Nedbank bullish breakup of a double bottom pattern on the 4hr charts, targets around R243 mark. R:R 1:1.5
With this double bottom we should see this guy going up a little bit
Nedbank at 50 ema resistance,could go short in anticipation of another leg down.
JSE:NED is showing a double bottom pattern. A double bottom usually signifies a change of direction so we can look at a possible long position if it confirms.
I'm previously 'guilty' of banking my previous short on NED early. But the same set up I took my previous short on, the bear flag,has presented itself again. I'm short from R219, I'm targeting R200. If the trend is indeed your friend, then I should be on the correct side of the trend.
JSE:NED formed a doji candle yesterday which means that the market has lost it's sense of direction and is vulnerable to change. Keep an eye on it and if it breaches around the 23600 level, I will consider a long position.
A break of that bear flag may expose the R230 area.
We may derive the following from the Weekly NED chart: 1. Price is near a weekly trend support. 2. Bears have dragged the price down for many weeks. 3. Price i.m.o should continue to fall further, but there is potential for buyers to come in at the current price. 4. I would consider waiting for more clear price action. 5. As always - maintain your risk....
JSE:NED has formed a strong bullish engulfing candle which shows great upward momentum.
JSE:NED is showing a bearish harami pattern, so is ready for a short position.
With the strong news coming out about Nedbank's Renewable energy Bonds i like Nedbank here The pivots have all opened higher on the weekly showing good momentum The First Target is R1 and the stops are below the green pivot extension
NEDBANK H4 (240 Minutes) Timeframe Reasons For Entry: - 61.8 Fib Retracement - Wave "B" Correction Entry Everything Good Yearns Patience And Time Disclaimer: Trading stocks, commodities, futures and forex has a level of risk and may not be suitable for all investors. This Page has many charts to show setups and patterns for illustrative purpose and no set up...