Barloworld short if trendline brokenJSE:BAW is showing downward momentum based on the stochastic, MACD and EMA's that have just crossed. However, it has been trending upwards since the 26th of March and I will wait for a convincing breakout through the upward trendline before considering a short. If this breaks, we could be looking at a move down towards at least the lows formed at the beginning of the upward trend.
ALSI
Short on BHPJSE:BHP is looking good for a downward move based on the momentum indicators (Stochastic, MACD and EMA's). If this short plays out and it reaches the support level around 41000 this would mean a Head and Shoulders pattern would form.
Once this Head and Shoulders forms and the neckline is broken, we could potentially see a move downwards all the way to the taregt around 33000. This is all dependent on whether the H&S forms and the neckline is broken, though.
Northam - Short The stochastic, MACD and the 2 EMA's have all turned downward on JSE:NHM - all signaling a short position. It has, however, been in an uptrend since end of Jan, so we might only see a retracement before a continuation upward. If it does go down, I dont think it will go much further than the support area around 23000.
AMS - EMA crossing could be signaling a shortThe EMA's on JSE:AMS have finally crossed downwards after the stochastic and MACD have been showing downward momentum for some time. It might struggle a bit at the 200000 level, but if it breaks through that, I think we could potentially see it go to around the 180000 support level.
Cup & Handle on CapitecJSE:CPI has formed a great cup and handle pattern on the day chart. It goes all the way back to December 2019 with the top of the cup being formed on the all-time high that was reached in December 2020. If we successfully break this high, I think we could see a really nice upward move from there.
Kumba moving down after a strong upward moveAfter a very successful long position (link attached below), JSE:KIO has bounced off of the strong resistance level at around 67000 and seems to be on the way down. This is being confirmed by our momentum indicators, the stochastic, MACD and potentially the EMA's with today's move. If it confirms, potentially, we could go down to around 58000 - 59000 area.
Downward Momentum on ARIJSE:ARI is showing some good downward momentum with the recent downward crossing of the 3 and 15 period EMA's as well as the crossing downward of the stochastic and the MACD. If this momentum continues, we could see a possible downward move towards the support level at around 24000.
SASOL - Upward Channel HoldingJSE:SOL has been trading in an upward parallel channel since October 2020.It has made numerous unsuccessful attempts to break out of the trend since then but the upward channel has held. With the break of the previous highs last week, I think we can continue to see an upward rise in the price all the way to the resistance level at around 28000
Richemont finally breaks out of consolidation areaJSE:CFR has been trading sideways in a consolidation area since early Jan and it has really struggled to break through the resistance around 15000. With yesterday's price action it broke out of the top of the "buy-box" and it is looking promising for an upward move. This is a new all-time high, so, with no existing resistance in sight, if it continues upward, I would be surprised if it goes all the way to the 16000 level.
Bidvest longJSE:BVT is showing signs of an upward move after a successful short position. Link below. Based off of the momentum indicators, we could be seeing a move to the upside. I would keep an eye on the trendline that it broke through recently as it might cause some resistance if it reaches that level.
Double Bottom with upward momentumJSE:ANG has formed a double bottom chart pattern and is showing some upward momentum based on the upward turn on the stochastic at the end of March and, more recently, the crossing of the EMAs and the upward turn of the MACD. If it breaks through the highs formed in early March, it might give us a nice upward move.
Clicks long if trendline brokenJSE:CLS is showing signs of upward momentum based on our trend-following strategy. However, it is struggling to form higher highs and break the down trend that it has been trading in for the past month or so. If it breaks this trendline, I will consider entering a long position.