After breaking out of the symmetrical triangle on 4th of March and triggering our short order, we are still looking good and it seems like the downward momentum is set to continue. Still aiming for the target at the 480 level.
JSE:ABG is looking good for a short position as the EMA's have crossed downwards along with the stochastic and MACD all signaling a downward move.
JSE:FSR is showing all of the right signs for a potential upward move. It missed our order by 1c this morning, and seems to be moving downwards for today possibly testing the 3 EMA. Our order might be triggered next week sometime and hopefully we'll go all the way to the target at R75
The stochastic, EMAs and MACD are all signaling a long position for $JSE:CLS. Our stop loss is placed just below the previous support level low and we are looking for a target at around the 349 level.
A symmetrical triangle formed on JSE:CPI from mid Jan and with yesterday's upward move it broke out of the top of the triangle. Generally, we see a nice continuation once the price breaks out of a triangle. Hopefully we will reach our target at the 2315 level.
JSE:PPH is filling all of the criteria of our momentum strategy for a potential short. If triggered we are looking at a target around the 17.46 level or at the very least the previous low at around 17.50
A Head and Shoulders pattern has formed on JSE:BHG and with yesterday's downward move, our order to go short was triggered. The target of the H&S lines up nicely with the support level at around 520. If this downward momentum continues, I think it's safe to say that we will reach target on this trade.
Our JSE:ANG short position is doing very well so far today with some good, strong downward momentum. If this continues, it stands us in good stead to reach our target.
All indicators on our momentum strategy have crossed downwards - which means that we have placed an order for a trade downwards. Our target for this trade will be down at the R384 level.
JSE:BVT was trading in a sideways consolidation zone since the end of Nov 2023. With Thursday last weeks price action we saw a breakout through the bottom of this zone. It has currently retraced a bit, but if it turns back down out of the zone I believe we can see a nice downward move.
A head and shoulders pattern has emerged on JSE:FSR and with yesterday's price action we saw a break through the neckline. With this trade we are looking at a target around the 58.60 level.
Along with the stochastic, MACD and 3&15 EMA's all signaling a downward move, JSE:CPI has also broken through quite a strong upward trendline. It is looking good for a short position if this momentum continues. We are aiming for the target down at the support level at around R1686
Our JSE:ABG long position has paused at a resistance level for the last 2 days. It hasn't reversed completely yet and looks like it is testing the level. If it breaks through, I am quite confident that it will go on to reach our target.
A Bearish Engulfing candle has formed on JSE:BID which is a top reversal signal. Today has moved up for now, so the trade hasn't been triggered just yet, but we will keep an eye on it to see if it triggers in the next few days.
A short position has been triggered on JSE:APN with today's downward move If it continues with this downward momentum, we would like to reach the target down at the 164 level.
Although our short position on JSE:SHP had a rocky start, with it retracing and going upward for a few days, I think with today's downward move so far, it is definitely still looking like it could become a profitable trade. If it breaks the lows/support level of 17 Jan and creates lower lows, we have a good chance of continuation to the downside.
A bullish harami pattern has formed on JSE:BHG which is a bottom reversal signal. Although it hasnt triggered our order just yet, if it moves in an upward direction, the stochastic, MACD and EMA's will most likely signal a trade as well, hopefully this harami pattern will get us in the trade earlier than our momentum strategy indicators would have.
We are in a short position on JSE:MTN and although today's price action is an upward move, I am confident that the prevailing downward trend will remain. We are aiming for the target at around the support level of the R91 area.