TBS did finally manage to break out of that consolidation pattern and now the question is, does it hold or break back into the box??. The play here would be to buy a bounce off of R218.00 for a target of around 235.00. Otherwise, short a break and close below 218.00 for a move back towards R205.00
After smashing below the 50 day Moving average (bearish), Bitcoin has stages a little comeback. Some might call it a "dead cat bounce"...Ok I'm calling it a dead cat bounce. If this current level holds as resistance at the 50 day MA, I reckon we could see 44700.00 again. Momentum indicators are all still very weak so there isn't much impetus behind this bounce.
All I'm going to say is... If the current level does not hold...we could see a 500 point drop and maybe even 800 on this index. That is also a nasty looking "head & shoulders" pattern...just saying
TFG currently trading in over-sold territory but there are two interesting points here. The 50 day moving average has acted as strong support for the price for some time now so that suggests a good entry zone to buy. Secondly, this happens to coincide with the newly established trend. You can look to buy on this trend line with a protective stop loss set below...
I like EOH at current levels. Their new CEO has been hard at work re-establishing trust in the market and they have pretty much settled and scrapped those ill-gotten government contracts. I believe they've turned the corner. Technically too! snapping the recent down trend after a nice recovery. It feels now that R8.00 will act as new support and I'm expecting the...
Sasol trying really hard to test the next upper resistance. Yesterday's early spike to 142.00 may skew the last candle a bit but the chart suggests that 150.00 might still be on the cards
Not even a solid production update could push the stock higher yesterday. Maybe some rand pressure putting on the breaks but KIO does look like it's topping out. The stock spiked to around 675.00 at the open but that is all it was (maybe lack of early morning liquidity. I expect KIO to move closer to support rather than test the high from here
I like the chart set-up ahead of the results on Monday. The price has managed to rejoin the major trend and could possibly flagging for a bounce. I think earnings will surprise which could get us back to 2021 highs quite quickly. I am happy to $53.00 with a stop loss just below that trend line on a weaker closing price.
DSY has formed what could turn out to be quite a dramatic head and shoulders pattern (bearish). Having already broken below the 50 Day moving average, it looks like the writing is on the wall for a re-test of the 200 day moving average. A continuation of this pattern and current momentum could see the price move nearer to 125.00
It looks like the breakout is just about confirmed for this stock. All that needs to happen now is the "Kiss goodbye"- A Pullback to around R46.00 would signal a test of new support and thereafter, I wouldn't be surprised if we saw R60.00 as the next stop.
Shoprite currently trading near support "zone" of around R130.00 after a pretty decent pull-back off recent highs. I think current levels can be bought ahead of their results on the 16th March. I think any surprise to the upside will result in a large rally. They have a tendency to surprise...Just look at what the price did after their last report...
Today KIO is making its 3rd attempt at breaking below its 50 day moving average. If this does in fact happen it opens the door for a much larger drop. The trick is, there's a R41.30 dividend coming next week so going short becomes a very difficult choice. Historically, Kumba has held it's dividend more often than not...
DEATH CROSS on GOLD 50 day moving average has crossed below the 200 day moving average. That could bring $1680.00 into play...
A bit of a false break for the retailer here and falling back below previous resistance. All momentum indicators have swung sharply downwards which indicates to me that this resistance level is in place and the stock can be shorted. With larger support way down at around 240.00, I wouldn't be surprised if we did in fact see a move down to there. So...I'm Short at...
DSY looks to making an attempt to retest the break-out level and has once again become resistance. Momentum indicators based on the daily chart are all still very weak which suggests that this bounce is too. I think Discovery is a convincing short at 135.00 with a potential medium term downside of R15.00. Targeting R120.00ish
So the recent news has helped Aspen's share price honor trendline support in a strong way. Momentum has completely shifted upward. I think we can see a lot more upside here. R145.00 target is not unrealistic.
The Satrix Financials ETF chart is starting to show that our basket of financial stocks is beginning to roll over. RSI and oscillators are showing price fatigue and weakness creeping in. A 10% correction is not a crazy notion. I reckon this one is a convincing short back to around R10.50 (200 day moving average).