Bitcoin has now entered into a new zone of interest $42200-$48600 after a successful breakout from a cup & handle pattern.
I remain bullish while $42200 is defended and look to the smaller time frames for pullbacks to buy longs intraday.
Note: RSI is overbought so best to keep the risk tight
The stock has been trading in a sideways channel since the beginning of this year. Currently its attempting to break out but the wicks above R3500 is an indication of sellers still around.
Tencent has also been up against its 200ema and has today come under pressure. Expecting a sell-off on NPN towards its rising 20ema. Failure there opens a possibly deeper...
The stock has broken resistance at R277 and has now opened the gate to target R300 => swing high.
Bulls will want to defend any pullbacks that may come to test the breakout level.
MACD positive crossover.
Another stock back to prices last seen 3 years ago after a 500% rise.
I will be patiently watching closely for any 'green' shoots on the chart.
Next level of interest is 45c while we stay below 79c. The trend is your friend!
Trend trading is a trading style that attempts to capture gains through the analysis of an asset’s momentum in a particular direction....
This chart is a good example of why you need to be decisive or have a system to get you out of a trade (eg moving average) when the tide has changed.
It's amazing to see the trajectory from 2020 to now and once again makes the point that 'cheap' can get cheaper.
The stock has been consolidating since September and has managed to hold onto supports at R11.60 /R11.90
Expecting it to break out soon and perhaps move backup towards the swing high. First major hurdle will be R12.70
Stoploss / Takeprofit on the chart.
The stock found decent support around R62 as mentioned previously and rallied almost 10% to R68.
We have now had some 'cooling' off from the bulls and once again back at a key R65. Bulls will want to defend this today or risk a deeper pullback to the breakout level --> R63.50
I will continue to be bullish the stock while price stays above the daily 20ema.
As per my per previous post, the stock had reached a major support zone and bulls did indeed step in aggressively rallying back to R437
Price has now retraced to test the up sloping 20ema and bulls will want to defend R410 or risk another test of major support.
Price has found good support at the major R220 level and broken out of the short-term downtrend.
Pullbacks into R235-R226 will give opportunity to accumulate for a move upwards to target the 200dma initially and then top of range. (Potential for a breakout there as it's been tested 3 times now.)
The stock seems to have support here with a developing cup & handle patten which will target gap close at 61.40
Bullish MACD crossover
A **Cup and Handle** pattern is a technical chart pattern that resembles a cup with a handle, where the cup is in the shape of a "u" and the handle has a slight downward drift. This pattern is...
The Rand from resistance against the dollar at the R18.20 level. This also coincides with the rising weekly 50ema.
Above R18.80 (previous week high) , the rand could continue weakening and follow the long-term trend up. (R18.95 next support) .
Alternatively, we continue to range within last week's candle.
As per our previous post, price held the major R60 level and rallied to just below the R67 hurdle.
We have had a 2-bar pullback now into a possible support zone, an area where i will be looking for longs. Bulls needs to keep it above R62 on the daily and worst-case scenario, the R60 level needs to be defended.
Price action on the smaller time frames will give...
After forming a 5-month base which broke out through the 200dma yesterday on the back of an upgrade, the stock looks set to for a decent leg up.
Note: Volume has been increasing into the date of release
Next hurdle up is R28.00, target price R30.50 (likely not in a straight line). Bulls next to keep price above the rising 20ema now.
The stock has broken out of a down sloping wedge pattern and is likely to get support in the current buoyant market.
MACD crossover with a diverging RSI.
First hurdle to overcome with be the 200dma .
Stoploss below R141
Price has formed a decent looking double bottom at a key support zone.
We closed above the 20ema daily yesterday so I'll be looking for a continuation today to target
initially R205.50 then R208.50
A daily close below R194 invalidates the idea.
After going ex-div and dropping to a low of R 9.14 a relief rally is possible here to test the down trending 20/50ema
This is a counter-trend trade (reversion to the mean)
Falling wedge breakout
Stop-loss below swing low R9.14
Price has come back to test the break zone that was created after earnings.
Bulls need a close above $312 to attempt a change in course and possible move to the top of the range else the double top looks likely to unfold.
A double top is a bearish technical reversal pattern that forms after an asset reaches a high price two consecutive times with a moderate...
The stock has had a rough 2023 dropping now 56% from its peak in late February.
The reversal of a false breakout can be vicious as witnessed and it's been one way traffic to the downside ever since.
There is no need to try call a bottom until a previous support is reclaimed or the chart structure develops.