Vodacom is seeking a weekly and yearly low price, good entry points around this zone, we are close to COVID lows. Price has found itself back in the channel that formed from April 2022 peak, currently at resistance of the channel. If we get a rejection we can expect price to attempt lower than R106.78, that would mean another lower risk entry, so it would make...
Investec price is caught in a rising wedge and the weekly cycle is nearing a timing band where we see a swing high. Once the swing high is set we can expect price to trend downwards and close below the support line. At that point we would be watching whether price goes below R94.12, this would mean a failed weekly cycle signalling price descends into a yearly...
Goldfields is in a time to have a daily high, we see here price being rejected at the 200 day moving average, we can expect a move downwards and lower than R213.76. Of interest is the area where 2 trendlines intersect, the retracement from there can be expected to be weaker with possibility of meeting 200 day moving average and horizontal blue resistance before...
MCG showing the battle being waged at the median line of a thin Pitchfork, still lean heavily on the idea that 5 July is potentially a Weekly/Yearly low point as we saw buyers step in around this level. The line that confirms a weekly low is the blue resistance & a close above the 10 week moving average. Should the share go lower than 5 July we would know that...
BTI has recovered the falling wedge support, now above the 200 week moving average as well. The convergence of the 200WMA & wedge support represents a strong support that should guide price upwards & confirm a weekly low price by closing above the pink resistance. On a daily timeframe we see price seeking a half cycle correction. Worth noting on daily time frame...
This is a monthly chart of SSW, we can see the channel within which price has been trending upwards. Within a falling wedge, price is now constricted where the green lines are converging. The pink support line is immediately below. Our eyes are on the swing low that will form in this range on a weekly basis for early birds, monthly swing low for less risk...
Impala platinum mines is hovering just above the COVID closing prices, indicators show that price is stretched to the downside while volume shows buyers stepping in around an area of value. The blue line represents the confirmation of a weekly cycle low when we close above it, the green line represents the yearly trendline when we close above it we have confirmed...
Anglo American is in pursuit of a yearly low, first we look for a swing low, then a close above the 10 period moving average. At a minimum the yearly low will see price breach the upper resistance of the Pitchfork. In terms of time, we are within a time after a long cycle from the COVID lows.
Nasdaq daily cycle is putting lower highs indicating that price is now moving towards a cycle low, any upwards momentum can be expected to be halted by the blue resistance line. We can also see the median line of the Pitchfork is now acting as resistance. Bulls would not want to see price trade below the green horizontal line as this would represent a cycle...
Discovery had a failed cycle in week 32, now we can expect price to confirm a weekly low as it is within the timing band. The resistance line confirms such when we close above it on a weekly basis. We can expect price to consolidate on arrival at this resistance or breakout then backtest. A rejection at this level would mean we wait and watch where it lands,...
Having found support at the 200 day moving average, price is now forming a rising wedge which we expect to break to the downside. From a cycle perspective, price is seeking a half cycle correction before moving higher towards the objective of filling the wedge. Onve we have a cycle high we expect price to go down breaking the wedge support towards the blue and...
Sanlam daily cycle is seeking a half cycle high on day 17, however we note the following: 1. TSI & RSI are putting negative divergence. 2. The RSI is showing overbought and beginning to turn. 3. Switching to the weekly chart we see overbought conditions as well. Given the above, the earnings report presents a risk to the downside, the cycle would be confirmed to...
Clicks is in a bullflag that will culminate in a cycle low, the share needs to have 8 September as a cycle low for it to remain right translated (somewhat bullish). For price to confirm a yearly low we need to close above the green resistance on a monthly basis, a tall order. Earnings come in week 21, which is close to a cycle top & a time for an expected daily...
Anglogold is in a falling wedge and we see price ready to breakout to the upside in the process confirming a weekly low price at R299.07. If we close above the green resistance, we want price to remain above the pink support in a move higher. This will guarantee a cycle where we will break that support onto a daily cycle low later in October ensuring we have a low...
NPH is seeking a weekly low price, here we see price back at the median support of the Pitchfork, a good area for a bounce. Price can move to the resistance of the Pitchfork and breakout. If it fails then we can expect a visit of the median line but this time lower and support of the blue parallel channel comes into scope.
If platinum miners are showing strength then we can expect Impala to join the bandwagon, in that case we look at weekly trend being confirmed through the following: 1. Closing above the blue line means we are in a new weekly cycle meaning higher for longer. 2. Closing above the green line means we are in a new yearly cycle, the dashed purple line becomes a...
Given the price action in the USD dollar index ($DXY), we can expect downward pressure on precious metals, Platinum already has a failed daily cycle, meaning the platinum miners will follow. Impala has found support on the 200DMA which will attract traders. As can be seen, price fell out of a rising wedge (bearish), so the bounce in price has can either: 1. Rise...
BHG finds itself in a rising wedge, price recently struck support where it shows intention of a cycle low. As it tries to move up there is blue horizontal resistance with median of Pitchfork not further up. To confirm a cycle low price must close above the blue downward slopping resistance and 10DMA, if it meets this & turns down going lower than R544.01 means...