JSE:ABG is looking good for a short position. All 3 momentum indicators have crossed downwards.
A Bearish Engulfing candle pattern has formed on ABG with yesterday's price move. We can consider a short position if the price continues downwards from here.
I would have thought that bearishness in the SA banking sector is a thing of the past, with earnings showing bank balance sheets & prospects to be more robust than feared in the Covid sell-off. However their consistent grind higher since call it Jun/Jul last year looks to have stalled, with the Big 4: - Showing channel breaks on their 1W charts, - All trading in...
JSE:ABG formed a bearish harami on the 4th of October which is a top reversal signal. This week, the momentum has been confirmed by the crossing downwards of the stochastic. The MACD and the EMAs look like they are on the verge of crossing down too which will be a further confirmation of the downward move.
JSE:ABG formed a bearish engulfing candlestick pattern on 1 September which is a top reversal signal. What makes the signal stronger is the fact that it it coincides with the resistance level from the current longer term up-trend. The MACD, Stochastic and now the EMA's are also showing signs of downward momentum. I think we could possibly be looking at a move...
JSE:ABG is showing some downward momentum based off of the stochastic and MACD turning downwards and now the 3 and 15 EMA's crossing downwards. I am looking at a short position to at least the 11250 support level.
JSE:ABG has been trading in an upward channel since July and it seems to have found some resistance at the top of the channel. If it trades lower and fails to break through the top, I will consider a small short towards the bottom of the channel.
JSE:ABG has been trading in an upward parallel channel since July. It has reached the bottom of the channel with quite strong bearish momentum. If it continues downwards through the bottom of the channel and makes a lower low, I will consider entering short. Conversely, it could bounce off of the bottom of the channel and head upwards as it has done a few times...
I Started buying around may 2019 - i will be looking to buy more around the R9600 REGION DISCOUNTED OR PREMIUM YOU CHOOSE - R12000 REGION ALSO LOOKS LIKE A FAIR BUY. ### TIME WILL ONLY TELL
Close below previous swing lows at R80 triggers the short trade. R75 first target while R70 is full target. Stop loss will need to be trail in order to make a good R:R trade. Stop loss above R84 (previous day highs)
JSE:ABG has broken through the downward trendline that it has been obeying since 5 June -the stochatic is also looking good for a reversal. If confirmed with tomorrow's price action, I might consider entering a long position with the target at around the 10000 level.
With yesterday's movement JSE:ABG formed a massive engulfing candle. The stochastic has confirmed this with a move upwards through the 20 line. I will consider entering a long position if confirmed for a move up to the resistance level at the previous high.
ABSA Bank Limited (ABSP)The walls are bloody for ABSA, which clearly shows momentum to the downside on the monthly timeframe (check out my full analysis on my instagram account @heisenberg_trader), as prices are trickling down, with momentary pauses in the form of bear flag patterns. The long term trend is clearly downwards, as prices have been forming a series of...