Was previously bullish this stock; but it looks to be developing a bearish triple top pattern, which will be confirmed by a break of the R109/R110 support area. Measured target around R96.
Closely watching for a weekly close below support, on that descending triangle pattern. Have a target around 1.4000.
Two bearish chart patterns on the Standard bank weekly chart... 1st is a double top technical chart pattern, which was confirmed last week, by the weekly close below the neckline support of R160. 2nd..With the same ‘neckline’ support of R160, is a descending triangle chart pattern. Measured target for both patterns is the R120 area.
The bear flag on the daily, if broken, has a measured target below R100; but 1st, price has to break the R109/110 support level, which acted as support for most of 2019.
Closed Friday's session below rising wedge technical pattern, a gap at today's open. I'm looking at 82.80-83.00 as 'Short' entry levels for a move to 80.00.
A break of that bull flag technical chart pattern has a measured target of R135.
Bullish double bottom technical chart pattern developing on the Woolies daily chart. A close above the R50 neckline is what’s needed to confirm the pattern.
Bearish head and shoulder technical chart pattern forming on the Exxaro daily, with a measured target of R112. Neckline support around R126 is the critical area to watch.
Could Capitec be gearing up for another move higher? That’s difficult to imagine; but that’s what the technicals are suggesting. We have a bull flag technical chart on the daily, a break of which can take the stock to new all time highs!
Not sure what to make of standard bank at current levels. The 1st technical pattern I’m noticing is a bullish bull flag, which if broken will also coincide with a break of the 200dma which ‘capped’ gains in December 2019. We also have previous neckline support which could act as resistance. I’m on the fence for now, monitoring!
More downside seems possible SBK as the daily chart is showing a break from a bear flag technical chart pattern, with a measured target around R150
1st, Falling wedge breakout and retest; 2nd, ascending triangle on the verge of breaking-out.
Double bottom bullish pattern on the daily chart, 1480 resistance/neckline now on the way, a break of that could take us higher!
A bearish set up confirming on TFG daily chart. At a close around current levels; I'm pulling the trigger!
Hourly close above neckline now targets 1482 as 1st target
Monitoring for a potential short on a break of that bearish rising wedge
Overall trend is down on the daily chart, Price trading below both 50 and 200 day moving averages. Bearish descending triangle forming, suggesting further downside. The R154 area is the critical area to watch!