After a solid rally, we turning bearish in Amplats as the stock fails to meaningfully break above the resistance located at R 870.00. All momentum indicators suggest a trend reversal and we propose shorting the shares in anticipation of a strong trend reversal.
Sanlam is a name that keeps coming up on our systems.
Extremely negative price divergence is at play with strong weak stochastics pointing to expectations of further pain ahead.
I am of the view that Selling into strength and strength will pay off!
The Aspen share price has set a solid base around the R 100.00 levels.
I'm getting excited about the futures price prospects and anticipate a strong recovery toward R 120.00
Furthermore, the stochastic's confirms my view of a strong recovery!
Time to build a solid position
The Bearish price action in Tigerbrands is set to persist...following the failure to break above the R 240.00 resistance level.
Stochastic and DMI confirmation supports a move towards the R 200.00 support levels ... keep a close eye.
Aspen time to go long !
After the sell-off early October 2018, Aspen’s share price has been building a sold base for several months.
Most recently the R 140.00- R 145.00 base is in play…
I'm loving the positive momentum and a move towards R 200.00 is sensible ...go go go go !
The Top40 Index recent weakness confirms my views of a strong recovery being set in motion!
The 47 000 level held ! .. so get ready for a strong move towards the 49000 levels.
Implied volatility is agreeing with my assertion getting clobbered to Mar'19 and Jun'19 expiration!
Falling over 2.5v over the course of just two days!
Absa Group showing positive momentum after testing the R 140.00 support followed by consolidation around the R 160.00.. This reaffirms a move towards R 200.00 over the medium term.. Look to accumulate around the R 170.00- R 172.00 levels.
Sanlam setting up for a breather after the strong distribution zone at R 84 – R 86 (trade resistance) holds.
Of the view the stock will take a breather and consolidate around the trend support located at around the R 73.00 / R 75.00 levels.
Aspen had an incredibly difficult 2018, with the stock losing over half of its value in only a few months.
The sale of Aspen’s infant milk business (a price below market expectations) together with the elevated debt levels are seen as major catalysts leading to the decline in Aspen’s share price from R 260.00 to below R 130.00.
Reviewing the time series, we note...
The share price is expected to build a solid base slightly above this level (R 3000.00) to confirm a bullish trend ahead…
The bullish view is furthermore re-affirmed by the recent consolidation slightly below the R 3000.00 handle after testing lows at R 2400.00 in mid October 2018.... sellers shaking the tree a bit. Medium target in sight R 3600.00 (20.00%)...
Mr Price Rising Wedge formation– set to break to the upside
Strong support at R 240.00 (consolidations) …position for a brief pullback towards this level will support a long position for a break above R 260.00- Target of R 280.00 / 285.00
Richemont has been consolidated over the past few months around the R 90.00/ R 95.00 levels..and has recently broken above a key resistance at R 95.00.. This following this mornings results coming inline with consensus. The stock is a good proxy for any good news coming from the US/ China trade talks and may possibly re-rate upwards.
I'm of the view the stock...