Dow Jones Industrial Average has broken what looks like a 15 min bear flag. Keep en eye on this for more weakness to follow
Looks like a major breakout from a flag pattern. No targets for this. Just a very interesting chart.
MTN has been consolidating in a wide range 4250-5200 for a few weeks now. This range could potentially also be a bull flag in the making, and for those patient enough to wait for a 5200 break result in a 6600 price target.
After the recent earnings report on 13 May, Tencent is now testing short term support levels. It will be interesting to see if it hold.
A big bear flag is still playing out on this share with 678 & 538 targets.
Transaction capital has been consolidating in what looks like a bullish flag since 8 April. A flag break would open a target of 2100 on this share.
MTN dropped by quite a large percentage at one point during the day but recovered to some extend to close "only" 4.4% down. A negative day tomorrow would mean this share has broken back into the flag which would negate the bullish flag breakout. Still long and carefully optimistic, but would trigger stop at a heartbeat if this selloff continue.
Adcock Ingram building a bullish looking flag. A break to the upside will open two targets - 4770 and 5080. Warning: Very volatile markets. Stick to stop losses.
Could mean some more ZAR strength/USD weakness to follow.
Bearish engulfing candle settling in on the daily chart. This is something to take notice off seeing that very large caps like Naspers forms part of this index. Weakness in Naspers will put a drag on any possible upward momentum on the All Share Index. The Industrial 25 index had an incredible run in the last 5-6 weeks, and it's maybe time for some consolidation.
Bullish looking cup and handle building on a lot of volatility. WAIT for a daily break of 7800 and stick to stop losses. Two targets for cup and handle are 10200 & 12800. Please exercise caution, as trading on this share is extremely volatile at the moment.
After a break out of a multi year channel and losing 37% out of that break, it made an almost perfect V - shape 60%+ recovery to end up back into the channel. If this channel hold, the next best assumption is that we will again start moving higher into this channel going into the future.
Close to the bottom of this channel and support. A small position can be taken with a top of channel target. Very volatile, stick to stop losses.
After falling short of targets after a successful head and shoulders break, it has now retested the neckline breakout level. If this level holds, it will be a bullish sign, and targets on chart will come into play again.
From 11.50 in Feb 2018 to 19.10 in Apr 2020. Price shock waiting for consumers of imported products
A break of 1275 could open targets of 1440 and 1550
Bottom of channel and some support reached. Might take a small position for a top of channel target. If top of channel breaks out you can add to a position. Stick to stop losses.
Capitec has formed what could possibly be a very large bear flag on the daily chart. Wait for a proper break on volume before going short. Targets 67800 and the recent low of 54000. Stick to stop losses. This share has been very volatile recently.