Looks like we have a failed H&S on our hands; which could trigger an 'extended' move upwards.
Amplats turning bearish. We could see 1500/1600 from here!
Could Merafe be breaking for another leg higher? *I'm still bullish, but with results coming out next week, it makes for a difficult call! The market can react 'anyhow' to results.
Aspen coming for a retest of previous support (now resistance). Will it push through that resistance and the 200dma just above it, to re-establish the uptrend?
My kind of pattern developing on Kumba; bull flag. Has a measured target around 750-800.
The Top 40 Index approaching a level of support at the previous breakout level; which level is also coinciding with it's 200dma. We currently about -10% off the highs; a further -10% drop will 'officially' take us into a bear market!
Looks like a H&S pattern developing on the daily chart, which if confirmed has a scary 100c as measured target. But until (and unless) we lose the neckline support and the 200dma, the trend is still up!
Inverse Head & Shoulder breaking on the weekly. It has a measured target around 900c-950c.
Could Amplats be coming for a retest before the next move higher? 2000 is the level to watch.
Should the 360 level hold as support, I'm calling it 450 from here!
Looks like a Head and shoulder pattern developing which will be confirmed by a break of that 890 support/neckline. Technically there still remains a gap at 858 that was never closed. These technical gaps usually (eventually) close. Measured target of the H&S pattern is 750!
If this break is sustained into the close, I'm calling it 220 next.
KIO coming for a retest before the next leg higher? There remains a gap from 700-735 that remains unfilled!
Strong reversal off the 200dma; on good volumes too. That incline resistance (as well as 50dma) have to give in to expose the January highs.
Released a trading update earlier. The numbers look okay, but the initial market reaction is negative, down more than -4% at the time of writing. Approaching a confluence of support around 1200c; that is, horizontal support(previous breakout level), incline support, as well the 200dma. The 200dma has to hold to keep the uptrend intact.
On a successful retest of the 150 breakout area, SBK may be a good buy.
Head & Shoulder technical pattern developing on the daily chart. Should the neckline give in, we may be in for another -10% downside!