MarcoOlevano

MarcoOlevano Updated 

Solid level of horizontal support and 200dma on the ASX200 - bounceable area - lets see if we get a reversal here

MarcoOlevano

Advance decline has made a new swing high confirming the rally in the SPX and supporting strength for further gains in week ahead. Have very little reason to be bearish SPX at this point in time when market breadth is supportive

MarcoOlevano

Netflix at a very interesting level here. 38.2 fib retracement of June lows and July highs. Channel Support. Previous resistance now support? Reversal off 200dma. Seems like a plausible level to attempt a long

MarcoOlevano

Stock goes ex dividend of 65c on the 18th of October. At current prices that is a dividend yield of approx 6.5%! Given the doji candlestick, reversal after 2 days of elevated volume, i have every reason to feel like a short term bottom is in here which could see the stock rise into the dividend date next week Wednesday. my two targets are the 23.6% and 38.2% fib...

MarcoOlevano

Keeping an eye on TLT here - some decent volume coming in with exhaustive demark 13 signal. Let's see if it manages to put some sort of temporary bottom in here

MarcoOlevano

Still looks like the play here is to buy rands between 19.20 - 19.30. Buying back short positions on USDZAR pair at 18.80 and then 18.40-18.50 which is the low of the range

MarcoOlevano

Not the first time in history this R80-R100 zone on impala has formed some solid support. Given the reversal candle forming here.. my odds favour a move higher here over the medium term

MarcoOlevano

Sasol boxing and holding onto important support at R225. A convincing close above R263 should see this move to the next target at R318

MarcoOlevano

Change of polarity here on the longer term satrix resources chart. I believe resources are the place to be in the current environment and this is a fantastic entry point to catch the next move higher

MarcoOlevano

Remgro is consolidating in the form of a bullish flag. I would look to buy off the bottom of this flag where the anchored vwap from May 23 lows come in at around R150 - short term target R171.50 if and when break above R160.00 occurs. Use stop loss at R146

MarcoOlevano

R521 is evidently horizontal support and the anchored vwap from July 22 lows. It should now attack resistance at R568. Over R568 opens up further upside with a view for new highs

MarcoOlevano

Naspers has been trading in a very sideways fashion over since the beginning of the year with support evident in the 2920-2980 area with resistance at 3400 - 3570 on the upside. Most likely with a nibble at the bottom of the range which looks to be holding for now

MarcoOlevano

watching silver closely between 22.00 and 22.50. This is where multiple levels of support coincide and probably opens up a decent buy opportunity with a tight stop loss. The uptrend from September 22 lows meets horizontal support from June. risk reward ratio of 2.35

MarcoOlevano

USDZAR has held the 18.80 support level for now but the long upper tails over the 19.00 level shows the rand bulls in control of price action for now. A daily close below 18.80 should bring about levels of 18.60 and 18.40. 200dma sits at 18.26 and the pair has a tendency to mean revert back to the 200dma before finding support in the recent past.

MarcoOlevano

DXY seems to be reversing off the upper end of the channel with MACD just about to cross at the same spot it topped on the previous 2 occasions. With price still making lower highs , odds favour DXY weakening here again lets see..

MarcoOlevano

Price action here looking quite constructive. After breaking out the wedge formation and back above the 200dma, price has consolidated in a box after retesting and holding the 200dma. I think we see a move back to at least $26.30 on this

MarcoOlevano

Some phenomenal strength against the USD after almost touching the 20.00 mark. Particularly interesting is how the pair barely managed to put up a fight at the important 18.50-18.60 level which was very strong resistance before the breakthrough. This bodes well for the zar but next up we have the 200day ma at around 17.90-18.00 which has been rather sticky in the...

MarcoOlevano

Just an observation - Apple reaching the top of its downtrend channel with some bearish divergence on the RSI. Could some see weakness from these levels. Retest of anchored vwap from January lows + 200dma at approx HKEX:150 could be a good target if we start to reverse.