Bull flag developing on Standard bank which could target 190.
Bearish Head & Shoulder pattern developing on the daily chart which, if confirmed, points to around R115.
Sasol still looks like a short to me with a 230 price target written all over it. *Attached is the original idea.
That's an ugly structure unfolding on TCP there, which may target 25-28. RSI is oversold though, so an oversold bounce can be expected.
The 200dma is out of the way on DRD. Buyers currently trying to clear the 1200c resistance area. Should we get through that, 1400-1500c will be back in focus!
Implats approaching some resistance around the 220 area; but I still like it for 240!
Some sort of retest on Standard bank and the potential scenario from here!
Horizontal and incline support levels lost; now up to the 200dma to keep the uptrend intact. Should we lose it, 185 could be next!
Still some way to go before Kumba can re-establish its uptrend. First level that buyers need to overcome is the 430 level which is coinciding with the 100dma.
Goldfields attempting to bottom here, looks like an Inverse H&S pattern developing. 160 need to give in first to expose 180 and 200 as next possible targets.
A bullish channel on FirstRand, a break of which may target 76ish.
Impressive run on Amplats during past few weeks. We can target 1800 in the short term; but first, buyers have to push through the 200dma.
Buyers attempting to break incline resistance. A break of that level, as well as the 200dma just above it may give share a push into the 510c area.
Hulamin with another attempt to break out of its 'base'. Previous attempts have been met with selling pressure. Will it successfully break this time? Only time will tell!
The Head & Shoulder worked like in the textbook. Now we have a potential retest on our hands. Will buyers push through the resistance to reestablish the uptrend; or will it (resistance) hold and we get further downside? *I'm on the fence.
Merafe retesting previous support (now resistance). If it (resistance) holds, we may be in for further downside that may potentially breach the 100c level. Incline resistance (around 135c), followed by the 200dma (around 145ish) need to be cleared to re-establish the uptrend.
Loss of neckline support on MTN could target 85 next. It's a technical Head & Shoulder pattern in play.
1900 'short' target exceeded. Original ideal attached below.