The stock relative to the Industrial 25 Index is showing leadership, has broken the downward stride and broken the accumulation range. Following the Wycoff logic we see accumulation of shares and a jump of the creek in Phase D. We are now waiting for a pullback to the creek, which is also the Yearly Pivot Point and 200SMA around 28000. Will be looking for an entry...
Following the Wyckoff logic Shoprite is ready to start to be marked up in Phase E. Following a backup to the trading range buyers have stepped in around 20000 to 21000. Looking for a markup to break previous highs.
Following the Wyckoff logic: Sasol has been under accumulation with bids coming in at 36000. Volume has been declined since 2017 showing the stock has moved to strong hands and the markup has started. Will wait for a backup to the trading range which would label the market to be in Phase D or pullback in which would indicate we are already in Phase E. But...
Ecpecting the breakout off the triangle to be bullish for the length up to the red line resistance, RSI indicates a buy.
Massmart: Year-to-date, MSM, along with the rest of the SA retail sector has been under siginficant pressure due to a sluggish out for the SA economy as well as a weaker Rand. Since March 2018, the price is down from a high of R178 sliding to a low of R101 in July. Over the last three months we have seen a base develop, with the price recently starting to trade...
- NED's at a bit of an inflection point (50/50 pivot point ) - Volume-profile favours the thesis - Will allocate Short if yellow shaded area is broken - Alternatively, will look to Long if price breaks above pink trend-line
I am very excited that the Johannesburg Stock Exchange (JSE) has been added to the TradingView data sources. This gives South African investors an opportunity to use the flexibility and ease of TV. As my first post I would like to highlight the performance of the Resources Sector. The South African economy was built on resources and has been under performing...
Similar to the Top 40 chart highlighted above, BIL is looking to make an upside break following the sideways consolidation seen since the beginning of June. The price has regained it's position above it's 50-day moving average (MA) while the MA has also started to point higher.