AGL - trend line breachedJSE:AGL has broken through an upward trend line and is looking like a reversal is imminent. The stochastic is also showing a signal for a short position.
If confirmed, I will enter a short position.
ALSI
ALSI - J203 - ALSI hit full target
- Looking overbought here
- Expecting a breather for the bulls JSE:J203
Ascending Triangle on PSGAn ascending triangle has formed on PSG. This is a neutral chart pattern and all depends on which direction the breakout occurs.
I will keep an eye on this and when a breakout convincingly occurs I will trade in that direction.
MONDI at ResistanceJSE:MNP has reached quite a significant resistance zone and we could possibly see a turnaround for a short position. The stochastic looks like it might be turning too which is a further signal.
If it doesnt break thorugh this level and confirms, I will consider a short position.
REM broken out of channelJSE:REM has been trading in a downward channel for quite some time and has just broken out of the channel in an upward direction. It has also broken through a fractal level and is looking good for a long position.
Old Mutual - Double bottomJSE:OMU has formed a double bottom. If it confirms through the current level, I will consider a small long position.
Bullish Engulfing on MTNA bullish Engulfing has formed on JSE:MTN . This means that it is possibly going to reverse into an upward direction.
24 Oct 2019 - JSE:BVT - Long - Cup and Handle - MPT I feel a little bit hesitant with this breakout but the boss (systems) says go.
Reason is... We've broken above the breakout brim level and have confirmed that what was a resistance is now a support level...
However, the previous trend was sideways which makes this trade a MPT (Medium Probability Trade).
I've gone long but instead of risking 2% of portfolio, I'm risking 1.5%.
Trade welll,
Timon Rossolimos
Founder, MATI Trader
ALSI - J203 (Monthly)- ALSI ended the month on a positive note.
- Markets are looking bullish and i expect the ALSI to follow.
- I will be focusing mainly on LONG setups when trading the index.
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Descending Triangle on GrowthpointJSE:GRT is showing a descending triangle pattern which is a neutral candle pattern. Depending on the breakout, we could be looking at a move in either direction. Keep an eye on this one for when it breaks out.
Possible ReversalJSE:GFI has reached a previous resistance level and we could possibly see a reversal at this point if it doesnt b reak through and form a higher high.
As always, I will wait for confirmation before jumping in.
Bidvest - Bearish engulfingJSE:BVT has formed a bearish engulfing candle pattern and is looking good for a short if it breaks the fractal level.
Since I alerted a short a week or two ago on BVT it has gone up but is still looking good for a short which is being confirmed by the stochastic.
ALSI - JSE - LONG Idea- Inverted head & shoulders on the ALSi
- Needs to break the neckline and close to confirm (30min candles) JSE:J203
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Possible trend reversal on CapitecJSE:CPI is looking like it might be reversing trend at the moment. It is struggling at resistance level and has formed what looks like a double top. As always, I will wait for confirmation before entering short.
INP possible downward momentumAn engulfing candle pattern has formed on JSE:INP . It is looking good for a downward move.
Stochastic has also confirmed the momentum.
Bearish Engulfing on FirstrandA bearish engulfing chart pattern formed on JSE:FSR which is often a top reversal signal. The stochastic has also turned downwards which further confirms the signal.
I will however wait until it breaks through the fractal level from the 21st of October before entering short, as it isn't the most convincing of engulfing candles as the top of the two candle bodies is exactly the same level.
Nedbank - Harami at ResistanceJSE:NED has formed a bearish harami at a strong resistance level which it has failed to breach. It is looking good for a short position with the stochastic confirming. If it breaks through yesterday's low, I will enter a short position.
SHP breakoutJSE:SHP has broken out of a symmetrical triangle and if it confirms above the high of yesterday, I will consider entering a long position.
RMH triangle breakoutJSE:RMH formed a symmetrical triangle pattern which it broke out of and closed with yesterday's move. Chances are, it will continue to move upwards after the breakout. If it confirms above the fractal level, I will enter long.
SANLAM at strong resistanceJSE:SLM has reached quite a strong resistance zone at around the 8200 level. It seems to be struggling to break through which is also being confirmed by the stochastic.
I will enter short if it is confirmed.
MRP "buy-box" and fractal breakout.JSE:MRP has been consolidating in a sideways trend or "buy-box" since late last month. With today's price movement so far, it has broken out of the box as well as a fractal level from the 17th of October.
If it closes above and confirms after today, I will look at entering a long position.
Descending Triangle on MultichoiceJSE:MCG has formed a descending triangle candle pattern. The candles are wedging into the corner of the triangle and will be breaking out soon. If it breaks out the bottom, this will confirm the signal for a short position.
Bidvest struggling at resistanceJSE:BVT is struggling at a strong resistance level and based on the stochastic's confirmation, we could be seeing a reversal. Wait for confirmation on today's price action before entering short.
