Trader-Dan

Trader-Dan

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. Previous post

Trader-Dan

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.)

Trader-Dan

The stock seems to have support here with a developing cup & handle patten which will target gap close at 61.40 Bullish MACD crossover Buyzone: 57-56 Stoploss: 55 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...

Trader-Dan

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.

Trader-Dan

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...

Trader-Dan

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.

Trader-Dan

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

Trader-Dan

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.

Trader-Dan

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) MACD crossover RSi divergence Falling wedge breakout Stop-loss below swing low R9.14

Trader-Dan

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...

Trader-Dan

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.

Trader-Dan

The stock has been hammered from the recent earnings release and the picture continues to look bleak on the chart. Short term resistance is at R27.50 ... only a daily close above might give bulls some relief to attempt first gap close at R29.55 Below Supports are at R25.00 and R23.60 Staying away from longs until picture becomes clearer. DM me for any...

Trader-Dan

The long idea continues to play out on NATGAS. We had a recent retest of the upsloping 20ema which has just crossed over the 200dma which has now flattened out. First target = 4.30 Stoploss = 2.75 Crossing Event: When the 20 EMA crosses above the 200 DMA, it’s often seen as a bullish signal, indicating that short-term momentum is rising faster than the...

Trader-Dan

After taking profit on the last relief rally (reversion to the mean trade) the stock finds itself making a new 52 week low. A relief rally is possible here with next major level of support being around R22.50 The lower timeframes will give clues to whether buyers step in to possibly target R27 in the short term. Previous idea in link NB: countertrend idea

Trader-Dan

The stock reached a short term high of R460 before coming off the boil . (overbought RSI) Price is now returning to a previous level of interest and the upsloping 200dma . It will be important to see where the buyers step in here and if the previous support holds. The 200-day moving average is a technical indicator used to analyze long-term trends. It’s a...

Trader-Dan

The stock reached our previous long target (link below) and has run into some resistance at the 200dma. Bulls tried to break out but failed forming a 2b reversal pattern. The R105 level needs retesting so i will be looking weakness towards that level. R111 will key level to break for the bears. Macd crossover + RSI off overbought .

Trader-Dan

Gold has been experiencing a strong rally on the back of global fears. The stock has rebounded back to a range of interest, R262-277 RSi is stretched here into overbought but it can remain there for a while so I'll be watching the daily price action to see if there are any signs of weakness. If bulls push through here, we likely target R299-R312

Trader-Dan

The stock seems to have formed a short-term top (hourly double top). RSI reached overbought territory and unless bulls can close back above R47.50, a pullback to the rising 20ema is likely. A Double Top is a bearish pattern that forms after an asset reaches a high price twice with a decline between the two highs. It’s confirmed once the asset’s price falls...