Bitcoin is under pressure.
Short bounce up - bull trap, and then a larger correction down.
Not looking to add to my position at the moment.
I will be sitting on my hands for now and watching price action.
I'll feel comfortable accumulating and adding to my position again below $35k or above $52k.
I like the share long term. It has seen nice price action over the last few days, however, it looks a bit overbought now, so now wouldn't be a good entry. I am expecting a pullback - the RSI is indicating the stock is overbought.
I will use price pullbacks as entry points to accumulate because it seems to be in an accumulation phase, forming higher lows in a...
I continue to accumulate in weakness because I am a long term holder.
Strong balance sheet and they continually pay dividends. (twice a year)
To me it looks like it has broken out of its long term downtrend and is now creating a new base before moving higher.
I'm using this graph to track price movements, could be some nice trade set ups. CPF sticks to its range.
RSI indicators are showing exhaustion. The stock looks overbought and is facing strong resistance at R130.
As a trader, I wouldn't want to buy the top right now. I'm looking for a pullback to (+- R115) before I enter a position again.
There is no denying that MTN has been a top stock to own in 2021, and this uptrend should continue, but in the short term I'm...
Purple Group's share price has been consolidating for a few weeks now, and seems to be forming an ascending triangle - higher lows.
Its has also formed a bullish pennant. This is the perfect time to be accumulating before it moves higher.
I expect the stock to break out of the trading range within the next two weeks.
R1.40s - accumulate
1st support line is...
Retest of support at 42k, then a shoot up to $50k to retest next resistance zone.
If Bitcoin breaks $50k, then it is game on.
Buy the dip.
Not financial advice.
Uptrend will be invalidated if it falls below its 200 day moving average and breaks 1st support at $42k and 2nd support at $37k and 3rd support at $35k.
Looking really strong, i think the bulls...
Sasol is starting to look attractive.
There is potential for a 50% upside return within the next 12 months.
All risks aside - Sasol is looking strong and in an uptrend.
Price target is R320 by next year June/July
Sasol must stay above R160 and within the yellow uptrend to confirm this uptrend continuation.
Pullbacks can be used as entry points to...
The South African economy has tainted JSE stocks and led to a delisting of hundreds of stocks over the years.
This sentiment has affected the JSE share price negatively as more investors shun the bourse. Prior to this, the share price was stuck in a trading range of between (R110-R130) - made for some nice predictable trades in that time.
But now, the...
Long term, I'm long PayPal. ($PYPL)
I'm looking for weakness now to add to my portfolio - I continue buying on red days.
PayPal should re-test its previous resistance, and this will be the area I look to add at.
I've plotted a couple courses it could follow:
1. Re-test to previous resistance - now support - then retesting previous highs - pullback - new...
Lewis Group is a South African Furniture and electronic appliances retailer.
They have declared a R1.95 dividend (R1.56 net) per share, which is to be paid on the 20th of July, 2021.
From 21st of July they will be ex dividend, which could put pressure on the share price in the short term, however, the share has been falling since its last rally where we see...
I am impressed with this company, and I like it a lot - I have been researching it for some time now, and today I have finally decided to take a position in to it after this last big dip. The share price may still run lower in the short term, but long term I think it will continue to make new highs. So I will keep buying the dips.
Grand Canyon Education offers...
Sibanye is fighting to stay above the support line at R62, and as long as it is successful Sibanye will stay in its uptrend and continue to push higher. However, If Sibanye doesn't hold R62 then it could test R58 and then potentially R55.
For now, Shorting it now could get you burnt, and on the other hand, going long could also get you burnt- so its a catch 22....
I've been selling rallies.
Bitcoin is looking extremely weak at the moment.
Bitcoin's chart resembles that of the typical market psychology chart.
We are experiencing a dead cat bounce, and I believe smart money is selling rallies.
Personally, I will only enter Bitcoin again once I see a strong reversal taking place. I think Bitcoin will be very choppy going...
Purple Group has had a massive run up over the last 6-12 months. Yes, their customer growth has been impressive and they continue to grow exponentially, but it goes without saying that you should be cautious and not overly optimistic and this point.
Purple Group must still grow into their earnings and continue to show the market that they have what it takes to...