Trader-Dan

Trader-Dan

The stock has had a major pullback since hovering near the downtrend 200d moving average and hitting a recent swing high of R110 . Im looking for a relief bounce here towards R100. A daily close below R90 negates the idea. Note: This is a reversion to the mean trade (countertrend). Mean Reversion Concept: Mean reversion suggests that asset prices will...

Trader-Dan

The stock has been on a significant trend up since the consolidation breakout in June 2023. Since then, the 50-exponential moving average has acted as support and the stock reach a swing high of R12.80 There has been a recent sharp displacement below the moving average with a 20ema/50ema crossover, signaling short term bearishness. Price could pull back to the...

Trader-Dan

Following on from the previous post, we have now closed above the R19.20 important level for the USDZAR. The odds are we likely target R19.44-50 then R19.65 next while R19.20 intact. The double bottom has a measured move to R20.20 (trend remains up). Below R18.77 would signal a failed break which would favour the rand on the bigger picture. Previous Post in link

Trader-Dan

The stock has pulled back to an area of interest after reaching a swing high of R164. (200ema) The R151 - R147.50 is also the fib retrace zone for the last major leg up. I will be watching for a confirmation to go long here. Note: Earnings coming up in March

Trader-Dan

The stock has continued to fetch prices since the R195 major support (double bottom) posted in the idea below. We at the top of a channel and major resistance just above at R236. As always, price action will be key to see if the momentum is likely to continue.

Trader-Dan

Following on from the previous post , we did in fact get a strong rejection off the top of the channel (major gap down) . Bulls stepped in at the channel low making a decent recovery back up to resistance. The daily candles warned of resistance again and today it seems the stock will come under pressure with R3180 a possible initial target . link to previous post...

Trader-Dan

The stock has had a nasty mode down today and testing a "key" level at R20. Failure to hold onto this area will likely lead to the stock moving down to target the swing low at R17.55 Above R21.75 the longs gain the short-term upper hand again.

Trader-Dan

The stock has had a powerful move after a well received trade update. The next hurdle to pass is the downsloping 200 day moving average and swing high at R610. Perhaps a consolidation/flag before a break out ? Bulls will want to defend R575 now on any pullbacks.

Trader-Dan

The pair continues to range between R19.20 & R18.20 and has formed a pennant pattern. As some point i expect this to break out with my bias to the upside as key moving averages are all trending up. Only below R18.20-18.10 will the bearish case likely change for the rand.

Trader-Dan

The stock has rallied well in January and is now entering the next area of interest R2980-R2820 It will be key to see how price action develops which will give clues to whether we break up further or have a pull back towards the up trending 20/50 ema's to recharge. Note we still have a cup in handle pattern in play with a measured move that targets the R3150...

Trader-Dan

The stock is finding support around the R97-99 zone with at RSI which has turned up off oversold territory. We could possibly have a leg up initially to the 200dma then the top of range at R110. I'm happy to hold long while R95 holds on any daily close.

Trader-Dan

Seems like some of the retailers had their Xmas rally in January this time round. Mr Price is clearly in the lead with Truworths and Foschini battling it out for 2nd place. Market was not happy with the Woolworths trade update. There seems to be some more runway left to the upside until things could get a bit stretched but the clues will be in the charts.

Trader-Dan

Price recently had a pullback after a sold run up and looks to have taken out some longs and perhaps trapped shorts in the process. Looking for a move now through the swing high @ R31.00 A daily close below major support will change the picture. Previous post below

Trader-Dan

The stock has broken back about its rising 20/50 emas and looking good for continued upside . Ideally bulls will want to defend R23.80 now to target R27.00 The bigger monthly picture is also looking bullish!

Trader-Dan

The stock is currently in a short term up trend and testing its 52 week highs. Volume is encouraging and we possibly formed a cup and handle formation which could propel it further. The hurdle to pass is the swing high at R2.64.

Trader-Dan

The SP500 keeps on surprising to the upside and the chart clearly shows that bulls are in control. The large cup and handle could take us all the way to 6000. Initial target of this swing high break is 5125-5215. Major support @ 4600 now

Trader-Dan

The stock has reversed back into a previous zone of accumulation. I will be looking for support here at 200 day moving average to enter a long position. Preferably bulls would like to keep price above the R52 level. RSI in oversold territory.

Trader-Dan

Taking an initial position long on Goldfields here with a tight stoploss. I will add on a successful break of the R254 swing high if we get there. A decent cup & handle in the making with a good risk /reward ratio. Stoploss and final take profit on the chart .