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South32 Ltd.SS

South32 Ltd.

9.93USDD
+0.12+1.22%
At close at Jun 9, 20:40 GMT
USD
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SOUHY trade ideas

S32 Long Prediction 2.10 - 2.11 is key area of support. Already been retested. Confirmed at the .382 Fibbonaci retracement level Over the hourly and 4 hourly time frames the 20, 50, 100, 200 ma level acting as a support. On the daily looks as tho the 20 MA might retest the 200 level. These are very strong indicators of a strong upward trend occuring. I believe the price will test the 2.15 at .5 fibbonaci retracement level consolidate and push up towards 2.19 at .618 retracement level. If the break out past the .618 level is confirmed the 2.35 area looks like an easy target. These are just some of my thoughts please feel free to comment any idea's.
ASX:S32Long
by dom_cusumano
Long Top5 oversold/overbought according to RSI & South32End of week 26Apr19. Another great week for #Coronation & #Naspers. FTSE/JSE All Share Top5 oversold/overbought according to 14day RSI indicator as follow: Oversold: Rebosis Property 30 South32 32 ArcelorMittal 33 Intu Properties 36 Hosken Consolidated Investments 36 Overbought: Coronation 81 Blue Label Telecoms 78 Santam 73 Transaction Capital 72 Super Group 72 Spending some time on South32 . This is not a share I’m currently personally holding & still fundamentally prefer other Mining Houses in this sector. The share is however making a very interesting formation and as mentioned, is highly oversold according to its 14-day RSI. The 2-year strong momentum still seem to be intact, while Thomson Reuters consensus (according to all analyst forecasts) have a R38.94 (14.5% upside) target price on S32. For short-term traders who are considering a long position in South32, could possibly watch R32.25 as a possible entry point. I would set my stop-loss to last year Novembers levels of R30.40. On the upside, resistance could be found at the 200-day (R36.25) and then the 50-day (R37.60) moving averages, with the top of the Pennant pattern (at R38.50) being a strong resistance point. Last mentioned will also be my ultimate target price.
J
by SchalkLouw
JSE:S32 South32 Looking WeakA little like Kumba S32 is looking week in a strong sector. The relative strength to the resources sector is rolling over. I previously looked at the structure as accumulation but this seems to have been an upthrust (UT) that met with supply (Increased volume on UT). The volatility to the downside has increased from 19 to 28 to 34%. The upward stride has been broken and is being retested. This looks weak and probably is distribution. The recent rally was without any conviction, even though it was over the holiday period.
JShort
by SteynTrade
Waiting for confirmation of the break.South32 is a globally diversified metals and mining company. They mine and produce bauxite, alumina, aluminium, energy and metallurgical coal, manganese, nickel, silver, lead and zinc in Australia, Southern Africa and South America. In May 2015, South32 successfully demerged from BHP Billiton and listed on the Australian Securities Exchange, the Johannesburg Stock Exchange (JSE) and the London Stock Exchange. Weekly: There has been a break of the support trendline but price pulled back above it. I will be looking at smaller time frames to confirm whether the break to the downside will be confirmed. H4: A breakout on this structure would indicate the start of more downside with targets around the 2400 mark. There is the possibility of another leg up but at this point in time I am expecting to see confirmation of the downside.
JShort
by Linton_White