I want that yellow zone to be hit by price and if we have a good rejection candle we take the trade in. Its a 3 part trade with the ultimate target being just below 5200.
Entry: 3 small positions @ 4160
SL: 3945
TP1: 4592
TP2: 4787
TP3: 5129
The RR on this trade is very good,so you can use small position size and still make good return,no need to be greedy and...
Equities Local | Sappi - Short Term Backtest. Another Opportunity To Accumulate | Technically, I remain positive on the medium to long term outlook for the share. Briefly, we saw the price 'top out' at R100. Test the R36 lows - just about at the preferred accumulation zone. In the short term, we see the share back-testing the breakout level, offering a short term...
After distribution and markdown, we have seen climax volume as buyers are stepping in. Price has now broken the downward trend it looks like the price could be breaking higher.
After distribution, Sappi was being marked down. However, we are seeing very high volume that has been increasing and this week the highest volume was recorded. In spite of this high volume, the price has been trading in a very narrow range around the key R40 level. It seems that large interest buyers have stepped in and a break of the narrow trading range could...
Equities | Pairs Trading Opportunity | +SAP/-MNP
I've got the weekly chart up but if you zoom in you'll also notice there's a slight turn happening on the daily chart.
Also to note: SAP as a standalone is setting up a great long term equity portfolio opportunity on the monthly chart as I have previously mentioned. Valuation is compelling.
- Price is in a solid downtrend
- Broken down out of a bear flag
- JSE:SAP
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
- Short IDEA has triggered again
-TP and SL on chart
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Sappi $JSESAP is approaching strong resistance. Previous support line turned resistance as well as 50 day MA will provide short term resistance but there is also a longer term downtrend that will need to be cleared at around R42 before entering a long position.
- Price is up against previous support / now resistance
- TP & SL on chart
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:SAP has been trading in a downward channel for quite a while and has reached the bottom of the channel and seems to be bouncing off. We can expect a short upward move towards the top of the channel. This is also being confirmed by the stochastic.
Sappi broke a defined channel to the upside last week, followed by a fake out and break back into the channel. It is important to take notice of fake outs like this because it usually results in a selloff as a result of trapped longs positions. People buy the breakout in anticipation of a good move upwards (many times with leveraged positions) and when the share...
