So we got a break of incline resistance last week, but the advances we capped by the 45 resistance area. From here, we may get a retest of the breakout area (around 40-42) before further upward moves; or we may get further downside.
We have lost a critical support level on the weekly chart, on what seems to a bearish 'rounded top' chart pattern. I won't calculate the 'measured objective'; but it may get worse before it gets better!
Horizontal and incline/trendline at risk of being breached on the daily chart. Should we lose that, next support comes in the form of the 200dma, followed by the 180-185 level.
Another banking stock looking vulnerable. This technical structure points to 55!
A bearish descending triangle chart pattern currently unfolding on Standard bank. I would 'short' for a move to 130.
Implats developing an Inverse Head & Shoulder which IF CONFIRMED could target 240!
A lot of bullish things happening on this Momentum chart. 1st we have a reversal 'Cup & handle' technical formation currently playing out. The 'handle' part of that formation can also be looked at a bull flag formation that is currently breaking out. Then we have a down trendline dating back from October 2021 that is giving in. All that points to short-medium term...
Naspers developing a bearish descending triangle chart pattern that, if confirmed may target the gap close around 1900!
Purely based on what the technicals in this chart are 'saying' to me, this is a 'short' for a short-medium term move to 230!
Nice base formed on Hulamin in the form of a Cup & Handle technical formation; a break of which may target 370c next.
Another one of my recent calls that reached TP target in the last couple of sessions. *Original idea attached below.
Kumba hit the 370/380 TP target earlier this week; reaching lows below in 366 yesterday's session. *Original idea below!
This one got to 1 cent shy of my TP target of 360 before reversing lower. All the same, I called it! Original idea below.
My recent buy alert on Woolies hitting the 60 TP target this morning. *Original ideal below.
Here is 'short' set up for a potential move to 115. Name of chart pattern in play; Head & Shoulder technical chart pattern.
A bearish 'rising wedge' technical pattern breaking for a potential move 480.
Trend is down, a bearish pattern (bear flag) is currently breaking; that's all the reasons needed to 'short' Amplats here for a potential move to 900.
Woolies breaking inclining resistance for a potential move to 60.