Trader-Dan

Trader-Dan

Cannabis stocks are smoking hot right now with CGC clocking up almost +400% in a matter of days ... This comes after a long protracted "downer" from all-time highs in the 50's Price has now hit up against the down sloping 200dma, perhaps some consolidation before breaking through to new highs? $2.13 is next major resistance which if broken could see the stock...

Trader-Dan

Tesla has received an upgrade from MS and looking to breakout of the flag pattern. Price has been holding above the 20ema daily running up to the upgrade. I will be targeting gap close at the $290 zone eventually while $242 holds. A bullish flag is a price action pattern that indicates a continuation of an uptrend. It consists of two parts: a pole and a...

Trader-Dan

Bitcoin has been under some pressure of late as it battles to hold onto the $29000 level but still trading within a bigger range. It's currently at a horizontal support zone and below the 200dma. A break of this zone opens the gate for a down leg to target $21500. Alternatively, bulls recapture the 200dma and attempt the upside break again.

Trader-Dan

The stock has miraculously recovered after the March earnings release where it fell as much as -24%. It's managed to work its way back above the 200dma and has now at overhead resistance. Price action here will be key to see if bulls have enough power to push through or fade. There is an upcoming dividend as well - LDT - 18th Oct .

Trader-Dan

The stock has printed an interesting, inverted head and shoulders and its currently rising above the upsloping 20/50 ema's. While bulls hold it above R10.90 , the bull flag is likely to play out but for a longer term horizon, a stop below R10 would be preferable. The pattern targets R16 eventually. The inverse head and shoulders is a technical chart pattern...

Trader-Dan

Another stock in an upward trend which released results well received by the market. Price has been in a period of consolidation and has now broken upwards. Pullbacks towards the rising 20ema will be welcome areas to accumulate or add to an existing position. RSI is quite overheated here but can remain so for a while in a stock that is strong. Bulls are firmly...

Trader-Dan

This name keeps on delivering the goods and looks set for a continued move higher. Your stronger stocks will generally be above important upward sloping moving averages. A break of the high now targets R465 ... SL below R400 Trend trading is a trading style that aims to capture gains by analyzing an asset’s momentum in a particular direction 1. When the price...

Trader-Dan

The USDZAR is in a range between 18.40-18.90 and building energy for the next leg. Currently there is an inverted head and shoulders pattern developing which could become a possibility if the major 18.90 level breaks, then the neckline tests. I still have a target of R18.20 & 200dma open for test and favour that direction for now.

Trader-Dan

- Price is struggling to move higher here and will likely go test R268-270 or lower. - MACD has signaled a bearish crossover. - R276 beaks the bottom of the range . A bearish MACD crossover occurs when the MACD line, representing the difference between short-term and long-term moving averages, crosses from above to above the signal line. This crossover is...

Trader-Dan

- WHL has had a strong rally from thr R58 swing low and has reached swing high last seen in February this year.., - Momentum seems to be slowing and price is tested the rising 20ema. - Failure to take back the highs could see a fade to the 200dma A rising wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the...

Trader-Dan

- The stock closed on its low with some volume whilst the RSI is overbought territory. - Perhaps a pullback to the up sloping 20ema is in order. - I would be cautious here to add any longs. A bearish engulfing pattern is a technical chart pattern that signals lower prices to come. The pattern consists of an up (white or green) candlestick followed by a large...

Trader-Dan

The weekly chart is looking solid for this stock and we could see R43.50 in a relatively short time. The RSI is crossing 0.5 and Macd has crossed over. Decent volume pickup in last few weeks. The daily chart shows a bullish close on the high yesterday. Longs can be initiated with any pull backs while R39.50-R40.00 is intact.

Trader-Dan

Sasol had a solid day clocking up a 5.84% gain on the back of news causing energy fears. Price close above the down sloping 200day moving average and at its highs which is bullish. Next level of interest is the swing high at R266.20 and then R275. Ideally bulls will want to keep it above the 200dma to keep the momentum going or risk a fade to close gap at R250.

Trader-Dan

- Price has rallied hard from the June swing low of R46.82 and looks to be running out of steam at this resistance level. - A short trade is initiated to look for a reversion to the mean . - RSi overbought -MACD crossing over Stop (daily close above) and take profit on the chart. "A reversion to the mean trade is a trading strategy that assumes that over time...

Trader-Dan

Price is pulling back to close an open gap at R3325 RSi into oversold territory. If buyers support the stock here i will look to trade a long position of this level. Stop loss and Take profit on the chart. Gaps are spaces on a chart that emerge when the price of the financial instrument significantly changes, with little or no trading in between. Gaps can...

Trader-Dan

The Dollar Index has once again from support in the major support zone and made its way back to the down sloping 200dma. Above $104.15 things could really interesting here.. The DXY index is the symbol for the US dollar index. It tracks the price of the US dollar against six foreign currencies, aiming to give an indication of the value of USD in global...

Trader-Dan

After a successful breakout and price reaching the first level of interest around R165 , the stock has given up gains to return to the breakout zone. The chart has printed 2 bearish down days and could likely test the up sloping 20ema / 50ema. Ideally bulls want these to hold these else a deeper pullback / reversal becomes a possibility. Previous post in...

Trader-Dan

Naspers closed the month near its highs and above the previous month high. Next major levels are the swing high at R3582 and R3605 . Bulls hold the upper hand above R3315. A fakeout is a false breakout that occurs when the price moves outside of a chart pattern but then moves right back inside it. It is also known as a “false breakout” or a “failed break”....