JSE:SHP is looking good for a short position. The MACD as well as the Stochastic are pointing downwards. The Exponential Moving Averages have also crossed in a downward direction. We can expect this to continue downward until it reaches support at around the 18000 level.
JSE:NPN was trading in a downward trend since late August but recently broke through the trend line. It retested the level and has now become support. We have entered long, but need to be aware of the possible resistance at 300000. Hopefully it will break through this and hit our target.
A reverse Head and Shoulders has formed on JSE:SLM . It is currently trading on the neckline and if it breaks out convincingly we can expect it to go all the way to around the 9000 level. This target level is established by measuring the distance between the top of the head and the neckline and copying the measurement on the upside. This level coincides...
JSE:REM is looking good for a short soon. The stochastic, MACD ad EMA's are all pointing in that direction. However, it is at a major support level at 19500. If it breaks through this level convincingly, I will consider a short position. It might just bounce off of it and continue upwards.
JSE:BID formed a bearish engulfing candle formation yesterday which broke through the upward trendline. This could possibly mean a trend reversal if it continues downwards. Look for a possible short position soon. Target would be in the support area a little further down.
JSE:TRU has formed a Bearish Engulfing causing a double top to be formed as well. If this trades lower on Monday, I will enter a short position.
JSE:NED looking good for a long position as it has broken through the resistance of the ascending triangle pattern that it has been following. It came back down and tested the support, and if it continues up, it should be a good long position.
A Bullish Harami pattern has formed on JSE:AGL which is also in a major support zone. This is usually a reversal sign. With it being on support the likelihood of a reversal is much higher. The stochastic is also turning upwards. We have entered a long position with today's price action and are looking to take profit around 32000
JSE:SOL is showing a bullish harami pattern, which is a reversal sign. So, we can expect a reversal from the current downtrend. If this turns up, we can expect resistance around the 450 and the 480 price areas.
JSE:RNI Has recently come out of a great Head and Shoulders trade. It seems to have reached some support so we can expect a possible reversal. The stochastic is turning up for now, and if it breaks above the previous high of a few days ago I will enter a long position.
Entered short on JSE:RMH because of a bounce off of resistance and a stochastic cross downwards. Looking to take profit at around the 6800 level. There seems to be another support level around the 7500 which needs to be taken note of too.
JSE:TBS has recently bounced off the top of a long term downward channel. Stochastic has also recently crossed downwards. Could possibly be heading for the bottom of the channel and might stall or bounce around the 24700 level.
JSE:SBK is showing a bearish engulfing candle at quite a significant resistance level. It will most likely come down until it reaches the support level at around 160000.
Entered a JSE:FSR short position because of the Dark Cloud Cover on a very strong resistance. We will look to ride this one out until the support level below.
JSE:AGL looking good for a possible short trade. A shooting star pattern formed on Friday last week. Today's movement has been upward so far, but heading towards a resistance zone. Stochastic in over bought territory - if it crosses down, this will be confirmation.
Long position entered on JSE:CPI on 23/10/2018 because of confirmation from MACD, Stochastic and cross of the 3 and 15 EMA's.
JSE:CPI is traveling in an upward channel, having bounced off the support on 11th October, showing a hammer candle - indicating a possible short term trend reversal. First target is the resistance area at around R1028 and second target R1077
CPI Capitec is traveling in an upward channel, having bounced off the support on 11th October, showing a hammer candle - indicating a possible short term trend reversal. First target is the resistance area at around R1028 and second target R1077