ALFDF trade ideas
Bullish Divergence on Astral foodsJSE:ARL
The share has been trending down and the 200 week EMA seems to have held well as resistance. With a couple of fake breakout above the 200 week EMA. We have a bullish divergence with the price making lower lows but the MACD making higher lows. I will now wait for the break through the resistance level of R166 and close above R170 (3%) Potentially closing above the 200EMA as well. To target the previous resistance at around R220.
Full plan - villagetrader.co.za
ASTRAL - Area of interest- The share has been sold off hard together with other markets
- Price is back to a level of interest , trendline support going back to 2014
- Looking for price action to give clues of support and a possible reversal
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Disclaimer: All ideas are my opinion and should not be taken as financial advice.
ARL Symmetrical triangleARL broke down of a symmetrical triangle. The price did bounce but formed a bear flag. Target of triangle R117.50
JSE:ARL - Inverse H&S (Hourly)JSE:ARL - H&S confirmed after breaking NL (13803)
A first positive signal was a break above the falling trend line (13652)
If this plays through, TP 14600
Caution: RSI (14hrs) is close to overbought at 70
$JSEARL - Possible long opportunityAstral trading near the bottom of this parallel channel. Look for a reversal at these levels as a possible trade to go long.
We're NOT chicken! - LONG ARLAstral held support nicely and looks to be bouncing. RSI nice and strong, I reckon we could get the move to top line resistance at roughly 178.00.
JSE:ARL Astral Foods Still Looking for the MarkupWith strength in the background, we were looking for the bounce of the yearly pivot point in the previous post (see below). Now there has been another spring to the 200SMA. A good reversal bar with some volume could indicate the markup is now ready to go.
JSE:ARL Astral Food Markup to StartAfter a downtrend and selling climax (SC) Astral Food has been in a trading range for most of 2019. This looks like an accumulation trading range. There has been signs of strength (SOS) with an upthrust in May and markup in Phase D in November/December. After a backup (BU) on decreasing volume back to the yearly pivot point some volume is pushing price up. This could be an indication that the markup is about to start.
Astral FoodsAstral Foods building some momentum post the annual results. A test of the intra-day high of R205.35 made on the 5th of September could be on the cards. The share is now trading above its 200-day MA.
ARL Astral FoodsEquities | ARL Astral Foods
Medium term trade idea with the following technical drivers:
- Price is above 8/21/50 exponential moving averages which are also starting to turn higher.
- The RSI has breached it's overhead resistance, while having retested the breakout level. At present, the indicator remains in the bull zone with a 64 print.
- The downward trend line going back to the July 2018 peak of R324 has been breached while the short term overhead resistance of R170 is being tested for a potential break up.
Trading Levels:
Look to buy on a close above 17050c
Use a stop-loss of 16320 to protect capital
Take profit at or near 18600c
Time Frame: Medium Term
Astral Foods JSE:ARLCurrently, trading @ R165.49 – The 50-day moving average @ R163.56 could provide some support. A push higher and a test of the 200-day MA @ R177.68 is possible. Horizontal support around R143. Horizontal resistance around R195.
Astral FoodsAstral Foods (Last close: 16070c)
Buy on a close above 16300c
Stop-loss: 15650c
Take Profit Target: 17800c
Key Technical Drivers: RSI and Money Flow breakout
MEI ShortYes Mediclinic momentum to the downside has fizzled,hower a long buy would be in anticipation of the FIRST bullish move of a new trend,statistically continuation is the more likely event,obviously keep risk managed.
ARL on Strong SupportARL is on strong support at R158 and a possible good entry point.
Resistance at around R178.
$JSEARL Astral Foods. Break after a good trading updateThis one could test 20600 sooner rather than later. Looks cheap on paper.
ARL - New Trend FormedThrough resistance and testes - New support
Good entry point to go long
Target R218-R220
Astral - Long wen Bullish Breakout is confirmedARL is currently running in a slight upwards trend with Resistance around R177 - R180.
Long enter point when R177 - R180 resistance is broken with confirmation. This may mean a TRUE Bullish breakout.
Next major resistance at R217-R220
Astral Foods Pending Re-Entry Astral Foods: Our last call on ARL (from 14350c on 28/01) saw the share make an immediate advance toward the target of 16000c. Since then, we have seen the share price test year-to-date highs of 17923c which is being followed by a short term consolidation. My next course of action is to monitor whether the price retraces to near the incline support or at least at around 16500c to 16300c, a level at which trader may want to set as a provisional buy/accumulation zone. Here, the stop-loss would be 15400c with a target of 19000c. Time Frame: Medium Term (2 - 6 months).
JSE:ARL Down Trend ContinuesAstral Foods has been in a downtrend since July 2018. It has reached the supply line with some volume and seems to be continuing the downtrend.
