MarketMeistersTrading

MarketMeistersTrading

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.

MarketMeistersTrading

JSE-HMN is potentially forming a Double Bottom pattern in a bullish momentum. Waiting for confirmation with a break above the neckline and confirmed support above R5.29. Potential target area of R6.89. Target 1 - R5.89 Target 2 - R6.44 Target 3 - R6.89 Resistance at the Neckline could see it continue the previous down trend.

MarketMeistersTrading

SHP - Note: After breaking above the resistance level what looked like a double top, the upward movement created a new High. The "area of interest" - is key area acting now as a support. A Broadening Wedge formation on the technical chart has formed. A Sell/Short may be triggered if the inclined support line is breached. If it finds support it could create new...

MarketMeistersTrading

Kumba Iron Ore is has completed a Double Bottom pattern in a bullish momentum. Confirmed breakout above the 427 resistance. Target 1 @ 476 Target 2 @ 492 Target 3 @ 537

MarketMeistersTrading Updated 

"JSE-listed hotel and resort group Sun International is anticipating that its Sun City resort will have one of its best years ever in terms of operating cash flow in the current financial year following the disruption caused by the Covid-19 pandemic." - Moneyweb - 13 Oct 2022 Potential buy/long. Looking for confirmation via candle strong structure. - Bullish...

MarketMeistersTrading

Foschini is testing the area of support again. TFG recently released a robust trading update, with retail turnover growth of about 31%. With Earnings to be released on the 11th of November we could see downward pressure step back and allow for Long trade back to September highs with a Target of R137. Concerns: The Foschini Group lost 99,000 trading hours in...

MarketMeistersTrading

ASPEN is potentially forming a Double Bottom pattern in a bullish momentum. Waiting for confirmation with a break above the neckline and confirmed support above 159. Potential target area of 188. Resistance at the Neckline could see it continue the previous down trend.

MarketMeistersTrading

The 50 day moving average crossing below the 200 day moving average, otherwise known as a "death cross". A bearish head and shoulder formation, if it finds resistance at the neckline (previous support) we could see the stock fall to 220.