JSE:BHP Support around 31800 held and now even small down channel was broken. Looks bullish to me at least until stocks hold above 31800
Zoom out a little and you will find support. Let's hope this support is as strong as it looks. ;-)
I am expecting a bullish momentum as we complete a correction pattern, before further downside. Targets should be at the top of the flag pattern and position size small, as we are in a downtrend.
JSE:J200 For people that like fractals. Drop in October 2018 was 12 days long and drop 9% from the top or some 5000 points Current drop is 13 days long same 9% and almost same 5000 points. So if history repeats itself TOP40 should bounce for the first pull back. But as it stands now this will be just pullback and more downside is on cards.
The top40 index (J200) has now broken two very important levels and is not looking healthy at all! Firstly we have broken down from the rising channel which has been in place for the best part of this year. Secondly, we have today broken below the 49200 level which is the neckline and horizontal support of the head & shoulder pattern. Based on the break of this...
Reversing on the hourly - decent RR for a ST trade
finally turning? - Waiting for hourly close above R436
I don't want to use this chart to give targets but merely as an illustration of what a very strong technical chart looks like. Firstly as can be seen by the price action we have seen successive higher lows and higher highs on MTN which is very much a characteristic of bullish chart. Adding to that, we have also seen all the major moving averages cross upward and...
J537 - The index that tracks the general retails on our market is busy respecting and reversing off this downtrend and channel resistance which has been in place since the index topped in March 2018. Of course the election outcome could be a catalyst for a further reversal or break, but nevertheless, an important level to monitor in this chart to determine the...
This chart looks like an emergency that requires an urgent intervention! Perhaps the major volume seen today could be an indication of capitulation and i will be monitoring the price action in the days ahead to see if it is able to recover from these over extended levels. Should this level hold which is also coincidentally the bottom of the downward sloping...
JSE:TBS has broken out through a support level, so we anticipate a downward move toward the previous low.
JSE:SHP has broken out of a small descending triangle pattern which is a signal for a short position. I have entered a short position and am aiming for around the 16000 target level.
JSE:MCG Not sure why anyone would go long MCG but chart points to more upside if flat top triangle is broken. This is hourly chart.
Looking interesting - caution whilst below 200day SMA
JSE:IMP This looks as great place to go long IMP. Stop loss at 5400.
Having another go at overhead resistance
JSE:SLM Trading in 7500-8000 box over last two months, currently testing bottom of the box. Break bellow will open 7000 as target.