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CML

Coronation Fund in a box formation - waiting for a breakBox formation is strong with CML. We need to wait for the price to break up or down from the formation, or it can be a long sideways move. If it breaks up the target will be R46.00 My bias however is more to the bearish side. and so if the price breaks below the current uptrend line and below the box formation, it's pretty much a given. Provided that that the breakout remains and doesn't become a fakeout again. 21>7 =200 RSI<50 Will have to wait and see.
JSE:CML
by Timonrosso
JSE:CML Coronation for some upsideIs #CML #Coronation a buy at these levels? Well on a weekly graph, over the past couple of years this share has traded in a descending channel. We are currently just below the mid-point of this channel. Image 1 TD indicator on the weekly chart shows extreme oversold levels and we have reached a perfected 9. Image 2 The stochastic indicator shows extreme oversold conditions. Image 3 On an hourly graph the share is consolidating round R32.20, whilst the stochastic has pulled back a bit. This may set up the short term graph for a pop to the top, which will in turn initiate the turnaround on the weekly chart. We might see Coronation running from here to close the ex-div gap at around R36.60. Fundamentals: Coronation is currently trading at a 7.5 PE and 13.5 DY dividend yield, which gives some protection if the share is to retest the 2020 lows as part of a capitulation turnaround.
JSE:CML
by chsmit
$JSECML Coronation entering a technical shorting areaCoronation Fund Managers (JSE:CML) held a massive level of horizontal support between R38 and R39 since the early weeks of 2019. After testing this level on numerous occasions, the bears finally got the final break in March this year, which pushed the stock as low as R25.00. Since bottoming out at around R25, the stock has spent the last couple of weeks consolidating these losses only to come back and retest the breakdown level. I fear that the amount of overhead supply waiting to get out above R39 will be just to much for bulls to get an easy win here. I would expect the stock to find resistance at the old support level and start to move lower. First target R33, if things get messy, it could even retest the previous lows at R25. Not a bad risk reward here, as you could try get in as close to R38 as possible, using a stop loss as a close above R39 or R40, and target R33 to take profit.
JSE:CMLShort
by MarcoOlevano