SOL seems to have bottomed and continues to consolidate under R300 progressively posting higher lows. Should the Lake Charles project finally become earnings accretive, there seems to be some value to unlock longer term. Such a positive catalyst could see us retest a previously well established support line (Suspect will be strong resistance)
CCO looks to have broken a long established downtrend, currently seems to be retesting this trend which could provide support. This area may provide a good entry point for a recovery story into the UK general elections (12 December) should we finally get some progress around Brexit
Not to mention, nice Rand Hedge !
Dcp is already trading at levels pre that shocker after hour trading update last Friday. Also facing significant horizontal and downward trend line resistance around the R24 area. Confirmation of a break above R25 will invalidate the downward trend in place and ultimately invalidate the short setup
The USD/ZAR seems to be trading off support and broken its short term downward trend. Confirmation of this breakout through lack of progress on Eskom reforms, all time high unemployment rates and potentially poor outcomes from the Medium term budget today and Moody's (1st Nov), could provide additional catalysts to see the USDZAR back above 15.
Trading near the upper bounds of a ascending channel after posting a solid set of results in a very dismal retail environment. With the good news priced in, potential to close the price gap and retest prior breakout level.
Capitec is approaching it's all time highs. Expecting this zone to become resilient resistance and entice profit taking. We can see both trend and horizontal resistance lines converging around this level. RSI very strong and expecting a retest of prior downtrend line established from previous high breakdown.