We may derive the following from the Daily KIO chart: 1. Price is approaching its daily uptrend. 2. The past few daily candles have been extremely bearish. 3. Price i.m.o should break the uptrend and continue to decline. 4. As always - maintain your risk. Note: The views provided herein do not constitute financial advice.
We may derive the following from the Weekly CPI chart: 1. Price broke a sharp uptrend. 2. We are still in an OVERALL uptrend. BUT price may be setting up for a move down. I think a bearish setup is likely. 3. It is still early to make a decision and so patience is needed to see if we form a potential sell or buy pattern. 4. As always - maintain your risk....
We may derive the following from the Weekly APN chart: 1. Price has been on a rapid decline. 2. We are therefore looking for potential buy opportunities. 3. If we price breaks the red resistance line, we may consider a small buy. 4. As always - maintain your risk. Especially considering the massive downtrend APN is in. Note: The views provided herein do not...
We may derive the following from the Weekly SBK chart: 1. Price broke its weekly uptrend. 2. Multiple rejections occurred at the 618 fib level. 3. Price i.m.o should continue to fall to 175 and then 155. 4. As always - maintain your risk. Note: The views provided herein do not constitute financial advice.
We may derive the following from the Weekly AGL chart: 1. We had a major sell off last week, which i.m.o confirms the sellers starting to gather momentum. 2. We have inner trend line (blue line), which is the last support before we head down to the major trend line. 3. I would consider shorts until such time as we reach major support (pink line). 4. As...
We may derive the following from the Weekly EXX chart: 1. Overall, price is still in an uptrend. 2. We have a channel with strong resistance and a double top. 3. Price i.m.o should first drop lower to the support of the channel. 4. Wait for price to reach the trend support - for now, we remain bullish (trend is your friend). 5. As always - maintain your...
We may derive the following from the Weekly DSY chart: 1. Price has respected the weekly downtrend resistance. 2. It also has a longer term bullish trend intact. 3. Price is narrowing in. 4. I would wait for a confirmation of the trend direction before taking any new buys/sells. Patience is key here. 5. As always - maintain your risk. Note: The views...
We may derive the following from the Weekly MRP chart: 1. Price is still in a downtrend. 2. We have a bullish zone at around 177. 3. Price i.m.o should drop lower first before a longer term push to the ATH. 4. I would consider buys at the weekly support, but for now, unless you are short, there isn't much of an opportunity. 5. As always - maintain your...
Looking at Bidvest, we may derive the following from the weekly chart: 1. Price has been on a decline. 2. The recent trend break most likely caused last week's major sell off. 3. We may therefore test the next support level, after which a break should take the price lower to 173. 4. As always - maintain your risk management. Let's see what happens. Note:...
Looking at Investec, we may derive the following from the daily chart: 1. Price broke its uptrend at the end of June after then returning up higher. 2. Price made a lower high. 3. A double top has already occurred. 4. A move to the downside is probable. 5. As always - maintain your risk management. Let's see what happens. Note: The views provided...
Looking at Shoprite, we may derive the following from the daily chart: 1. A range channel has been forming. 2. Price is approaching support. 3. It should either bounce or break lower. 4. I believe price will most likely go lower considering that the overall trend has been down. 5. As always - maintain your risk management. Let's see what happens....
Looking at MTN, we may derive the following from the weekly chart: 1. Price is at a previous support level - now resistance. 2. It is important to watch this level and see how price reacts. 3. As always - maintain your risk management. Let's see what happens. Note: The views provided herein do not constitute financial advice.
Looking at Sanlam, we may derive the following from the weekly chart: 1. Price sold sharply, as at the current weekly candle. 2. Price generally sells off at the 80-82 zone. 3. It is appearing more and more likely that price will continue lower. 4. Pay attention to the blue trend line. 5. As always - maintain your risk management. Let's see what...
Looking at South 32, we may derive the following from the weekly chart: 1. A noticeable h&s pattern had been formed over the past 2 years. 2. Price is on the neckline support. 3. A push down should trigger the technical pattern. 4. It's pretty dangerous to trade it now, wait for confirmation. 5. As always - maintain your risk management. Let's see what...
Looking at SOL, we may derive the following from the weekly chart: 1. We are at a major support level. 2. Keep in mind the growing bid on wti/crude. 3. I am favouring a move to upside. 4. Stop loss is in a non traded zone (good for limiting risk). 5. As always - risk management. Let's see what happens. Note: The views provided herein do not constitute...
Looking at the FirstRand, we may derive the following from the weekly chart: 1. A noticeable technical pattern had been formed over the past 40+ weeks. 2. Price is trading outside of the triangle. 3. Note the weekly candle hasn't closed yet. 4. A solid close above 72 should take us back to the 2018 high. 5. As always - maintain your risk management....
Looking at the Richemont, we may derive the following from the weekly chart: 1. CFR is at a notable resistance level where price has slowly started to reject the previous trend line. (The backtest) 2. We are seeing a correction pattern in play. 3. I am favouring a move to downside in the near future. 4. If the backtest holds, bears will bring the price...
Looking at the INBEV, we may derive the following from the Daily chart: 1. Price is finding resistance at 129. 2. We still have a bullish channel to possibly continue the move up. 3. A break above the horizontal resistance should take us up to resistance within the channel. 4. As always - maintain your risk management. Let's see what happens. Note: The...