Hudaco still remains one of my favourite small/midcap share on the JSE. For our full summary on the company currently, click on the following link to read the full report (free): oldoak.co.za From a technical point of view, HDC finds itself back into its longer-term channel, currently flirting with the 200-day Moving Average (EMA). Should we see a break a close...
We can clearly see that short-term $1775 held up again, with the possibility of short-term recovery. Should it break below, we could test $1680. If support hold, $1820 next resistance.
Nice little bullish breakout from the pennant chart pattern. According to Investopedia.com, "the price target for pennants is often established by applying the initial flagpole's height to the point at which the price breaks out from the pennant". This effectively means that Impala still got a lot of legs. This is concurred by the current Thomson Reuters consensus...
Strong short-term support level broken on Friday, indicating that further possible downside ahead. Should Friday’s break not turn out to be a false break, could see GDX test previous support level at $32.20. We also saw the short-term 8-day Moving Average (EMA) break below the longer-term 200-day EMA, which is a clear indication that it might just get a bit...
Very interesting level for the USDZAR. It finds itself currently in extreme oversold (overbought if you monitor the ZARUSD) which could see some interim profit taking soon. The medium-term resistance-line is however now being tested, with a break and close below these levels (R14.50), bringing my longer-term target of R13.85 up as possible, “next-stop”. This is...
Just a follow up on my 12 November GoldFields call. Click to see that call: So we ended up testing that R127 support level and for now, it held up quite nicely. Seems like the Gold Price is somewhat oversold and the US Dollar Index ( ICEUS:DXY ) is still dropping like a rock. With today's break and close above the ultra-short-term 8-day Moving Average...
Again, Gold Fields finds itself at a crossroad. The trading update from the company this morning looked positive, and we maintain our buy recommendation on the GFI. See our recent report: oldoak.co.za Technically, the share price still finds itself within the falling wedge pattern, with the bottom support-line being tested for the third time this week. We also...
Remgro remains one of my favourite “SA Inc” type of company by a country mile. Even after a 16% run over the past week, still leaves the company trading at a current discount to its intrinsic value of over 40% (compared to an average 10-year discount of 15.6%). We therefore firmly believe in the longer-term opportunity REM offers, even at current prices. Also,...
Value making big comeback in October increasing 8.5% MTD compared to Momentum ( JSE:NFEMOM ) which lost 1.8% of it's value (no pun intended) thus far. Remember - NFEVAL got 16% exposure to Real Estate as well, which makes this performance even more impressive. Love the breakout today. Any investor looking for some market exposure through local ETF's, can have...
Would keep a close eye on Richemont over the next few days. We just saw a break below the medium-term recovery trend. Should this turn out not to be a false break, could see the share price test R108 support level soon. A break and close below R108, could see CFR test the July lows around R104.40, with a break and close below this support level, bring back the...
Gold Fields broke below both its 8-day Moving Average (EMA) and medium-term support level yesterday. Looking at the US Dollar Index last night and this morning, I do think that this might turn out to be a false break. See the link to my US Dollar Index/Gold Idea of the 17th of October. With the USD Index now trading below 93, I do think that the next stop for the...
This might just currently be my chart of the week; one I will be monitoring very closely this coming week. We can firstly see the clear inverse correlation between the USD (US Dollar Index) and the Gold Price. More importantly, with the little bounce we have seen in the USD this week, the US Dollar Index now finds itself at a strong resistance level. Not only did...
A strong week for the US Dollar, with most Emerging Market currencies coming under pressure. Also look at my US Dollar Index Idea here: Despite the USD strength, the ZAR remained resilient, having some of the best relative BRICS currency performance for the week. BRICS currency/USD movements for this week: Brazil -1.9% Russia -1.1% India -0.6% China...
Horrible week for the Rand. Yes, it was partly due to USD strength, but mostly due to Rand weakness. Bottomline is the Rand lost 5% of its value against the US Dollar, in one week. Ouch! BRICS currency/USD movements for this week: Brazil -3.1% Russia -3.1% India -0.2% China -0.8% South Africa -4.7% Euro /USD -1.7% Technically, the ZAR crossed above all four...
Stable week for the Rand, trading below R17/USD for the whole week, but struggled to break the R16.50 level. BRICS currency/USD movements for this week: Brazil +1.7% Russia -1.8% India -0.2% China +0.3% South Africa -0.1% Euro /USD -0.5% Technically, the ZAR remained above both the R16.50 resistance level as well as the 200-day Moving Average (EMA). It did...
S&P500 currently in positive territory, which could see long investors having a bit of a sigh of relief. I would however monitor the whole trading day, as any turnaround today, could see the index break below the parallel channel at 3450. Should we see a break and close below 3450, could see the $SPX test the 21-day Exponential Moving Average (EMA) at 3429. Should...
Big break today below both the parallel support-line & the 50-day Exponential Moving Average (EMA). Should this not be a false break, could see us test the R400 levels soon, with a break and close below R400 most probably testing the R387.50 levels. Strong support only at the 200-day EMA at R377.50. Would stay clear of any short-term long positions until we...
Would not be buying Redefine yet as it is currently trading at an especially important support line. We can see a clear Bearish Flag pattern. According to DailyFX.com a Bearish Flag is: Identifying a bear flag can be easy once traders understand the components, and this is applicable to all financial markets. The pattern itself is divided into: 1. Traders will...