Trader-Dan

Trader-Dan

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

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

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

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

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

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

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

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 

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

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

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

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

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...

Trader-Dan

The stock has come off the boil and returned to the up sloping 200dma Currently broken down out of a rising wedge pattern. Support : R11.90 , R11.60 Major Support : R11.00 NB: Upcoming earnings release "A rising wedge pattern is a technical chart pattern that traders use to identify possible trend reversals in the price of a security. It appears as an...

Trader-Dan

The stock rallied hard yesterday after dipping and likely trapping some shorts just below the ambush zone R91.74 Price has pushed back over of the 20/50 ema but it will be important to see some follow through today else a a short-term reset to R93-95 may be in order. "The 61.8% level is a Fibonacci retracement level that traders use as a trading strategy for...

Trader-Dan

- Price has pulled back from its recent swing high of R74.75 - Currently in a support zone where i will look to open a starter position and add to as the price action develops. - RSI deeply oversold with a relief bounce likely. - Only below R60 do i turn bearish on the overall picture. The Relative Strength Index (RSI) is a popular momentum indicator used...

Trader-Dan

The stock looks set for a relief rally after closing a gap from April 2020 and printing a swing low of R25.60 - RSi is bouncing off oversold and the bullish price action yesterday suggests a move up . - Positive RSI divergence TP & SL on the chart

Trader-Dan

Price has recovered well after reaching a low of R145 . A bullish cross over of the 20ema over the 50ema has just taken place. The stock is still however trading under its 200dma which could be a hurdle at R180. Support is now at R164.