JSE:RMH has been showing strong downward momentum for quite a while. We are approaching a strong support level around 6800. If it doesnt break through, we could potentially see a nice upward move.
JSE:RMH broke through a descending resistance a couple of days ago and is also has triggered all of the criteria for a long on the trend following momentum strategy.
We can anticipate a bit more of an upward move before reaching the resistance level.
Nice littler breakout lately for $JSERMH, through long-term resistance, to close at a 52-week high on Friday. RMH now trading at the Thomson Reuters consensus target price.
JSE:RMH is in an upward trend and seems to have just finished with a retracement which bounced perfectly off of the 61.8% Fibonacci level.
If my predictions are correct, it should continue in an upward move for a while all the way back to the previous high and possibly even beyond.
Royal Merchant Bank (RMB) Holdings is an investment company, with its main holding being a 34% interest in FirstRand Bank Limited, one of southern Africa’s premium banking groups. The group’s history can be traced back to the consolidation of Rand Consolidated Investments and Rand Merchant Bank in South Africa in 1987, giving the group a wide interest in the...
A bullish flag on RMB Holdings signals upcoming buying opportunities as the market breaks out of the flag we go in with the buyers. The target being at the 8962 area.
Entered short on JSE:RMH because of a bounce off of resistance and a stochastic cross downwards. Looking to take profit at around the 6800 level.
There seems to be another support level around the 7500 which needs to be taken note of too.
Following on from September's evaluation (See link below) the following. The pullback after the breakout seem to be a formation of a new trading range. Following the Wyckoff logic the breakout was on relatively high volume and the pullback to the previous trading rang a Automatic Reaction (AR). We have had another test of the bottom of the new trading range with...
On the weekly TF RMB Holdings has been re-accumulating and broke the trading range with good signs of strength (SOS) (or Jumped the creek according to Wyckoff terminology). There has been a back-up and we are potentially looking at the start of the Mark-up Phase E. The stock is also showing leadership against the Wyckoff Wave and increased volume on the up waves...
