Oil has come under pressure over the last few months but has now traded down to just above a rather significant support level. The $71.71 level (give or take) has been rather significant since early 2020 when it was resistance. Since then, it has turned into support, and now Brent has come down to test it as support once more. Our thinking is that it would be a...
We've seen this kind of setup before. Usually these can be rather good topping patterns. Should the US500 fail to break above the black line indicated and go on to print a new all-time high, we would target the black trend line that coincides with the purple support/resistance level. Wait and see... but our call is that we get a proper correction here.
Interesting perspective here on Sasol.
We use a weekly chart and show how that downward sloping trendline has changed from resistance to support.
Could this finally be the changing the tide?
Well, those who have followed our blogs over the last few years would know that we are somewhat (really) bullish on Bitcoin. yes sure, it will be a wildly bumpy ride, but if you have some, just keep em!
Anyway, this chart shows a potential breakout move to new highs. Wait for the flag formation to break higher before you have confirmation, but in our view this is...
We are climbing on the bus a little early with BTI. The stock has recently broken above the 200-day moving average, which serves as a great longer-term trend indicator. Thus, we are taking a small long position here, ungeared, with the view to hold it for the next 12 or so months.
Well, this is very much against the trend, but there could be a triple bottom forming. Buying here gives us a 1:3 risk-reward ratio, which we think is attractive. Our trade is from this support level to the 200-day moving average. Should the triple bottom formation play out, it opens for a target well above the 200-day moving average giving the trade a 1:6...
So MCG turned down Canal +, only to announce a content deal with Paramount Plus. This is certainly good news for MCG streaming subscribers. Here's looking good for new highs once this level is broken. We bought the break at R107, which may have been a bit early, but we think it should be ok in the end. Target is R123 with a stop at R100.
FNV has been under some pressure recently, as is the case with most Gold stocks really.
FNV is another prime example of a high quality Gold miner that is trading below its 200-day moving average while Gold itself if making new highs.
This is a strong buy from us.
PAN is breaking out of a long-term range.
Consider that this is a weekly chart looking at 5 years' worth of data. So, this price target will take a good long while to be reached and it certainly won't happen in a straight line.
That said, we really like this stock for the medium to longer-term.
AU has run a bit already. We called it come time ago when it broke out of the range, so this post serves a little like an update.
We think AU reaches $26.
If you missed the breakout, it might be difficult chasing the stock here. You cold put a 2-day low trailing stop loss on if you wanted to get in now and still have a favourable risk-reward.
As is the case...
The last time Gold was trading at $2100, Barrick Gold was at $26! Today it is still below $16. The world is obsessed with tech stocks while the gold stocks are deeply undervalued. This is such a strong buy.
This chart shows the physical Gold price versus Barrick Gold. Both have been rebased to 100 and so that they can be accurately compared. Gold has pushed to...
Wait for the formation to break before making any trades. That said, it does look like Oil is setting up to trade higher. Maybe as high as the recent swing highs?
AEM is headed straight for key support. We like the idea of buying AEM in the buying zone indicated. It offers a great risk-reward. The stop is below the indicated buying zone with a target at the recent swing high. Great payoff, small amount of risk.
