We previously identified increased interest in Tongaat (see post below). This buying continues at increasing price levels. Someone is in a hurry to buy the stock and are not waiting for the price to fall back to the lower levels and buying on the way up.
I was asked my view on Intu Properties but before I start I want to note that this is exceptional circumstances where we are looking at weak stocks in a weak market and looking to buy them. But here we are. So again like so many other stocks Intu has been training in a longterm downtrend but has gone oversold and now the big money is buying stocks at bargain...
Just like Anglo Gold Gold Fields has seen an increase in volume and is pushing off resistance become support continuing the markup that had started.
After a pullback to breakout levels volume has increased at resistance become support. Together with negative divergence on the volume RSI this points to a healthy continuation in Gold stocks.
It could be time for the push to test R180 again. Good volume and higher highs are indicating that the move to R180 is about to start. Will be watching this week.
Aspen has been in a downtrend but after going oversold (see below) we have been following the recovery to the top of the channel. Some negative divergence points toward a continuation of the smaller uptrend that has been formed.
Dis-chem has been in a downward stride but after a short accumulation with a spring, the trendline was broken. After a backup (BU) it looks like it will break higher and test the yearly pivot point.
Following the post in March (See below), we are still holding for a test of R1200. There has bee a pullback after a reaccumulation range on lower volume and we are looking for a push higher to complete.
We have been following the bounce on Sasol from the selling climax in March. After closing the gap we have seen a pullback on declining volume. This could be a preliminary supply or a buying climax. We will have to wait and see. We are now again looking or the test of the 200 Day MA and test of R200. Once this has occurred we will follow the larger timeframe range...
Aspen is at an important decision point. It is a level of previous volume at R140 where selling occurred. We have been following the stock signs of strength (see posts below). The relative strength is good and volume is increasing as price increases. However, the volume push is declining. The stock still looks strong but we may see a pause at this level. However,...
The market volume has been low but it could be time for some action. We have been following the bounce in Sasol since the selling climax (see the posts below). We have now are again pushing the level formed by the gap. The previous attempt has been overcome. Volume is higher during increases and lowers during on decreases. There is negative divergence on the...
Harmony is being pulled higher by the sector. However, there has been a significant volume in the stock indicating buying even though it may be lagging gold stock to be bought. With gold on the move, it could be time for Harmony to follow higher.
Gold is very strong. After a week pullback, we are now seeing price breaking higher.
All the gold stocks have shown a week pullback attempt and has reached oversold conditions. Time for the markup to continue.
There has been some volume buying into the close today. Price has reached the oversold line and was unable to break below the previous trading range. The volume could indicate the start of the next move.
After a break the trading range and a pullback on declining volume, we are now looking for a markup to start.
After the selling climax (SC), we have seen an automatic rally (AR) and another attempt to move higher on an upthrust (UT). Now are looking for a test of the lows as part of the trading range that has formed with the SC low and AR defining the boundaries.
After a trading range starting in mid-2018 Vodacom has had a spring-like action during the market downturn. The comparative relative strength was outperforming while other stocks were falling. There was a pause at the yearly pivot point and 200 day MA but the price was unable to push below the trading range again. Today we have seen a significant bar with some...