AMS - Momentum Strategy LongAll of the criteria have been met for a long on JSE:AMS on our Momentum Strategy.
The EMA's have crossed, The Stochastic has crossed up along with the MACD.
ALSI
Anglo American ShortJSE:AMS has broken out of a descending triangle pattern as well as breaching through a downward fractal.
I have entered a short position with a target around the 55500 level.
Upward Momentum on CFRThe exponential moving averages have crossed upwards, the stochastic has made an upward turn and MACD is also on the up.
These are all signs to go long as the momentum is moving upwards.
ANG LongJSE:ANG has broken through a descending resistance line and could continue upwards. I will wait a bit to see if the direction is confirmed before entering into a long position.
WHL Resistance Breakout at SupportJSE:WHL has broken through a descending resistance and confirmed the breakout with the next candle. This breakout also happened at a support level.
We can expect an upward move due to this breakout.
GRT Piercing LineJSE:GRT is showing a piercing line pattern which is a bottom reversal pattern.
Definition of Piercing Line: After a preceding downtrend, the green candle opens below the previous days close and closes above 50% of the previous red body. The candles MUST be different colours.
Bullish Engulfing & Descending Resistance Breakout on SBKJSE:SBK has broken through the descending resistance and formed a bullish engulfing candle pattern yesterday. Because of the strong momentum, I decided to enter a long position at opening this morning.
NPN Resistance BreakoutJSE:NPN has broken through a descending resistance level. I will wait for confirmation on todays price action before entering a long.
Strong Bullish Engulfing Signal on NEDJSE:NED has formed a strong bullish engulfing candle which shows great upward momentum.
CFR Short off ResistanceJSE:CFR is bouncing off resistance and has formed a bearish harami which is a top reversal signal. We can expect a downward move.
BIDVEST Descending Resistance Breakout & ConfirmationJSE:BVT has broken through the descending resistance and has confirmed the breakout.
We can expect a move towards the resistance level around the 21000 level.
For the cautious trader, you can wait for it to break through the fractal or for the more aggressive trader, you could enter immediately.
ABSA ShortJSE:ABG has broken out of the symmetrical triangle pattern that had formed.
Today it seems to be retracing a bit and you might find that it will bounce off the resistance before continuing downwards.
Depending on your risk appetite, you can enter a short right away or wait for a retracement and bounce before entering.
Strong Downward Momentum on MNPJSE:MNP is trading in a downward channel and a pattern has emerged that every time it hits the top of the channel, it plummets towards the bottom of the channel. It has recently hit the top of the channel and is looking positive for a downward move, but just to be safe, we will wait until it breaks through the fractal a little below the current price.
Buy Box on SparJSE:SPP broke out of the bottom of the 'buy box' consolidation area yesterday which normally means a signal to go short, but it seems like a hammer candle is forming which could mean a reversal, so I will remain cautious and only enter a short if it breaks the current low of today's price action.
MTN Symmetrical Triangle BreakoutJSE:MTN has broken out of a symmetrical triangle and is looking good for a short position. Personally, I would wait for a confirmation by it breaking through the fractal on the 13th of May before entering a short position.
SAPPI Long OpportunityJSE:SAP formed a bullish harami off of a descending support line which also coincides with a support level from early 2015. It is looking very promising for an upward move.
TBS ShortJSE:TBS has broken out through a support level, so we anticipate a downward move toward the previous low.
SHOPRITE Descending TriangleJSE:SHP has broken out of a small descending triangle pattern which is a signal for a short position.
I have entered a short position and am aiming for around the 16000 target level.
Descending Resistance BreakoutJSE:LHC is ready for a long position – descending resistance breakout.
Piercing Line ReversalA PIERCING LINE has formed on JSE:REM .
A piercing line is defined by the following:
- After a preceding downtrend,
- Green opens below previous days close, and closes above 50% of the real red body.
- Bottom reversal signal
- Candles must be different colours.
Because of this, along with the upward channel that it has been trading in, I entered a long position on opening this morning.
Triple Top ResistanceJSE:MRP is once again showing a bearish engulfing candle pattern, but this time, it is also coinciding with a triple top resistance level. The last bearish engulfing didn't play out, but because of the strong resistance, this one is more likely to.
Bouncing off SupportJSE:AGL is bouncing off a support level at the moment with the stochastic turning up. This could possibly mean a reversal, so if it continues upward I am entering a long position.
Bearish Harami Reversal on NedbankJSE:NED is showing a bearish harami pattern, so is ready for a short position.
