Trader-Dan

Trader-Dan Oct 25, 2023

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 Oct 18, 2023

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 Oct 18, 2023

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 Oct 18, 2023

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 Oct 18, 2023

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...

Trader-Dan Oct 16, 2023

Nvidia looks to be set for a pullback after a meteoric climb since Oct 22' Macd has rolled over on the weekly and the price action if pointing slowing momentum. Only above $490 do bulls have a chance of a further breakout/leg up. A daily close below $403 will would increase bears chance of a strong pullback.

Trader-Dan Oct 11, 2023

This beaten down Telco has had a strong bounce yesterday closing on the high and printing two bullish candles. - Price is now above the 20ema - Macd positive crossover - Lower low Will need to hold pullbacks to R22.85 to continue the momentum

Trader-Dan Oct 10, 2023

The stock has just printed a new 52 week low . The chart is in a solid downtrend since losing the support zone R118-127 Next possible support is R99 which if lost opens swing low at R90.70 No position .

Trader-Dan Oct 10, 2023

The plat stocks had a good rally yesterday on the back of current global events. Price tested the down trending 20ema which is the first hurdle to break the short-term trend. If the stock continues to rally and closes above R117 in the coming days, a double bottom pattern could come into effect with a decent measured move up to target the top of the descending...

Trader-Dan Oct 5, 2023

Brent oil price has returned to the 200day moving average and a previous support zone. Wedge breakdown TP1 is 81.60 MACD crossover signaled the loss of momentum + double top. RSI is approaching oversold. The **200-day moving average** is a technical indicator used to analyze long-term trends. It's a line that represents the average closing price for the...

Trader-Dan Oct 5, 2023

Price is returned to test the 20 day moving average and there is a an evident rising wedge which has formed. RSI & MACD bearish divergence I would be cautious to the long side here especially if bulls can't hang onto the R74 level. Sure, here is the explanation without number annotations: The Rising Wedge is a pattern used in technical analysis to predict a...

Trader-Dan Oct 2, 2023

The dollar has had a strong September, and the chart suggests that the 109.53 level could be targeted over the coming months. Dollar bulls will need to defend the 104.30 zone in the short term as to keep this move alive or risk descending back into the channel it has traded in since Dec 22' for a deeper pull back.

Trader-Dan Oct 2, 2023

The Top40 ended the month of September down -4.01% keeping to the seasonal trend of being down for the month. The next quarter has the 'tendency' to be seasonally bullish. Major Support levels 65574-63278 Bulls need to reclaim 67870 to ignite a new leg up on the larger picture.

Trader-Dan Updated  Sep 29, 2023

Gold is back at the 200dma which has now flattened out . A loss of this level could see price back at $18.80. Alternatively, bulls need to hold the level and break $1943 for further upside. September seasonally a good month for Gold whilst October being one of the worst.

Trader-Dan Sep 27, 2023

The Sp500 has broken down from what is an obvious head & shoulders pattern. Price has now reached the 200ema and may find some relief here. A failure to hold onto this level will see the next level tagged 4200 ( the vwap from the swing high, peak). We currently in the most bearish period seasonally so this sell off was 'expected'. RSI is in oversold territory...

Trader-Dan Sep 27, 2023

Another stock at its 52-week low and reaching the next previous support level around R10.40 R11.50 is now major resistance which needs to be overcome if bulls want to reverse this back towards the 200dma. Below R10 things could get ugly. (S2 pivot support at next wing low).

Trader-Dan Sep 27, 2023

Price has made a 52 week low and is at previous swing lows. Failure to hold onto these levels could see the stock target the R16-R18 zone. The 52-week low in trading refers to the lowest closing price of a stock or any other security during the last 365 days. It’s a technical indicator used by traders and investors to analyze a stock’s current value and...

Trader-Dan Sep 22, 2023

Price has returned to and area of interest, a major horizontal support and just below the 200 dma. Judging by the way Tencent is trading this morning, an attempt is likely going to take place to push back towards R3110 or the gap left behind now at R3145. Losing this major support opens the gate to a possible double top playing out. A double top pattern is a...