MarketMeistersTrading

MarketMeistersTrading

TRUWORTHS - The current price is now testing the lower trend line within a broadening wedge pattern. Anticipating potential support at the trend line; however, a break below it might signal a significant decline, offering a potential short play. It's worth noting that in the 50 days leading up to the past six earnings release dates, there has been an average...

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Looking at MTN's price action, it's been on a downtrend since breaking out of a sideways range. The RSI shows it's oversold. I'm waiting for the RSI to cross above the downtrend line, similar to what happened in May 2023 after the earnings report. My plan is to aim for a target of 108-110 initially. If it breaks above that with good support, I'll consider adding...

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SPP's price is currently moving within a trend channel, and it's testing the upper trend line as we wait for this week's earnings announcement. Looking at how the stock behaved before, we can see that attempts to break key support levels were met with resistance, forming lower highs. Target 1 around the 96.68 area. Caution: If the stock breaks above the trend...

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Trading Analysis for Woolworths on the JSE: Woolworths (WHL) is set to announce their FY23 results on 30th August 2023, following a significant 35% rally since June 2023. However, Their recent trading update revealed that HEPS (Headline Earnings Per Share) fell below expectations, accompanied by negative concerns around load shedding. Currently, the price is...

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Platinum experienced a marginal rise, potentially due to geopolitical concerns. Looking at the daily chart, the metal's price made an attempt but fell short of surpassing the $894.82 level, which corresponds to the 20-EMA. It also tested the upper trendline of a wedge pattern. Notably, the RSI broke above its previous downtrend, indicating a moderately bullish...

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SASOL (23/08/2023) - MONTHLY CHART: Sasol's monthly chart shows a rounding bottom pattern, similar to movements in August 2008 and April 2011. The price appears to consolidate around a support zone, excluding the COVID-related drop. This might lead to a sideways phase followed by a potential long-term uptrend. Note: The time taken for the pattern's first half...

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Richemont's trading chart signals a potential entry into Impulsive Wave 5, as observed on the weekly time frame. - Monitor the emergence of support above the previous high of Impulsive Wave (1) resistance. - This support could drive a price movement towards the 400 level. NOTE: RICHEMONT - These ultra-luxe brands appeal to the top 0.01% of earners, who remain...

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Currently, we're observing the price action of HAR. On the daily chart, a potential Cup & Handle (C&H) formation is taking shape. Recent action has caused the price to dip slightly below the brim, but a stronger break downwards move is needed for confirmation. Concurrently, there's the presence of a falling wedge pattern, suggesting the possibility of an upward...

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We expect a bearish movement as the price retreats from the High Supply area supported by previous resistance, FRVP, and RSI-overbought conditions. Traders should monitor the price action closely for a potential bounce or reversal around the trend support line to identify possible buying opportunities.

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Will it happen again?

MarketMeistersTrading Updated 

SHP has been moving sideways in a clear pattern, with repeated fluctuations around earnings results that typically result in a price decline. It's possible that this pattern will repeat itself once again?

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- There is a possibility of a medium-term trend reversal for MRP as the price approaches the lower boundary of the channel, which could act as a potential support level. - This support level has the potential to launch a new upward movement in the share price. - RSI is showing signs of moving out of the oversold area, indicating a potential buy signal. - RSI...

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TGA - Cup and Handle has formed on the daily chart . Waiting on a break below the support. The pattern is showing a slight correction before further downside. We need to wait for the official breakdown below support. Target 1 @ 212 Target 2 @ 180 Note - further confirmation for support to the downside can be seen on Weekly chart which shows a large H&S pattern forming.

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I have been monitoring TRU's trend since its breakout on January 16th. However, it's important to consider the bigger picture of its price action. TRU has been moving sideways in a clear pattern, with repeated fluctuations around earnings results that typically result in a price decline. It's possible that this pattern will repeat itself once again?

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H&S formed on Telkom SA. Looking foe the price to break above the neckline and confirm support above 37. We could see resistance around the 38 area (200MA.) Note: - R35 (20ema) is a key area of resistance - A 15% cut to the workforce is on the cards - It is expecting offers for its tower and masts business also by March - It will be interesting to see how much...

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A head and shoulder pattern has formed on the weekly chart for TGA. Unlikely that the company will allow such a fall. But, it does support a down trend and the bearish C&H pattern on the 1D seen in my previous Post.

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$JSEBLU - Bullish descending triangle pattern unfolding with some upside potential. A confirmed support above 5.40 will further support bullish trend to 5.80 Further bullish trend support above 6.00. Target 6.60 with potential to move higher.

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This is not a forecast or a signal. It's just an example of an occasion which a pattern like Wolfe Waves worked well. CLH - A while back I posted a long entry (Early October) with a potential Bullish Wolfe Wave forming with a trend reversal at point 5. We saw a bounce at the key area of support followed by a continuation on that momentum to the initial target.