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UPDATE: Transaction Capital hit my Take profit but I'm pissedFalling Range formed on TCP and there was a trend channel bearish 200> 7<21 All the signs were showing downside to a target at R26.46. Which it hit. If I held it just one more day it would have gone to R14.50. But that's trading for you. Now with the gaps and panic selling, we can expect some accumulation to form bringing the price up to close the gap. Then we will need to wait for the next formation and pattern to form. I'll await and let you know
JSE:TCPShort
by Timonrosso
2
Life Health Care group showing strong upside to R21.39 WARNINGW Formation since Sep 2022. It's been moving in a sideways range without any promising direction. Then in February we had a breakaway gap. This is where the price jumped from the sideways range into an uptrend. And most sellers and stop losses were hit. This showed strong upside to come. 7>21>200 RSI>50 Target R21.39 WARNING Gaps like to close 70% of the time. And I don't generally like taking any trades where there are prior gaps. I'd take this trade as a medium probability one.
JSE:LHCLong
by Timonrosso
Glencore is could break down for the 1st time in years to R81.70M Formation has formed on Glencore. This was prior to an ongoing uptrend, until last year. Last year it moved into a range bounded state which has formed this M Formation near the end of 2022. Now we can expect a break down any day now below the neckline. There are other bear signs, and the biggest is RSI. 21>7 - Bearish Price>200 - TEST RSI has been forming lower highs since before the M formation. This is an extremely Bearish divergence where we can expect the price to follow. RSI<50 Target R81.70
JSE:GLNShort
by Timonrosso
UPDATE: Naspers short confirmed to target R2,766Break in Uptrend structure confirmed and we are no longer in an uptrend. We've been in a sideways range and now entering a bear market as of today. We now have a largeish Inv Cup and Handle with a few bearish signals. 21>7 - bearish price>200 - Bullish RSI <50 - Bearish lower highs Target R2,766.00 WARNING Even though we expect the price to drop, it's only correcting back to the 200MA zone. Once the price gets there, we'll see a test between the bulls and bears before a chosen direction is established.
JSE:NPNShort
by Timonrosso
Prosus hit our target up at R1,446 now expect downsideTarget hit at R1,446 recently from a larger Cup and Handle. And since then we had the price go up one more day before entering into a strong sideways range. During this time it formed an Inv Cup and Handle with a few bearish signals. 21>7 - bearish Price>200 - Bullish Target R1,1033 RSI<50 Bearish WARNING Even though we expect the price to drop, it's only correcting and equilibrating back to the 200MA elastic mean zone. Once the price reaches here, there'll be a test between the bulls and bears before a chosen direction is established.
JSE:PRXShort
by Timonrosso
USD/ZAR target hit at R18.48 & we have another dreadful target It pains me to say our USD/ZAR trade hit the take profit level at R18.48 and now it looks like further upside for the USD is on the way. Another Cup and Handle has formed, which has broken above the neckline. And if we place the stop loss below the handle, we get the next target at R19.71. 7>21>200 RSI>50 Target R19.71 With interest rates on the rise in America after Daddy Powell mentioned more upside to come, meanse investors will continue to invest in the US dollar with high income yielding assets like Bonds, Money Markets and High interest savings rates options. As long as interest rates (or the fear of them) continue up, we will continue to see US dollar strength which will bring down many other exotic currencies like the rand.
Long
by Timonrosso
PPC trade update - still looking good for a long to R4.29W Formation is still in effect with PPC. 7>21 - Bullish Price > 200MA Bullish RSI>50 >70- Bullish Target R4.29 This is a patience game now. Here's some facts about the company PPC Limited was founded in 1892 as De Eerste Cement Fabrieken Beperkt and is headquartered in Johannesburg, South Africa. PPC is the acronym for Pretoria Portland Cement, which is the original name of the company. The company operates in six African countries, including South Africa, Zimbabwe, Botswana, Rwanda, Ethiopia, and the Democratic Republic of Congo. It produces a range of cement products, including Portland cement, Surebuild, Rapid Hard, and 3Q Mahuma, which are used in a variety of construction applications. The company has a strong focus on sustainability and has implemented a range of initiatives to reduce its environmental impact and promote social development in the communities where it operates. It has a market capitalization of over ZAR 2 billion as of March 2023.
JSE:PPCLong
by Timonrosso
Merafe showing downside to test R1.00 again read fundamentalsM Formation formed on the daily and we are just waiting for the price to break below the neckline. 21>7- Bearish Price <200 - Bearish RSI <50 lower highs Target R1.08 CONCERNS: Many resource companies are showing downside to come. It seems like smart money knows something the public doesn't. This corresponds to the strengthening dollar. Ever since the US dollar started strengthening in February 2023, Resources markets have been showing volatility with no conviction of upside. Economically speaking for Merafe, the price of ferrochrome (Which is used in the production of stainless steel) is denominated in US dollars, which means that changes in the value of the dollar can impact the price of ferrochrome. This is because a stronger dollar makes it more expensive for buyers in other countries to purchase ferrochrome, as they need to exchange their own currency for US dollars in order to make the purchase. This can lead to a decrease in demand for ferrochrome, which can put downward pressure on the price. Additionally, a stronger dollar can make it less profitable for ferrochrome producers in countries with weaker currencies to sell their products on the global market. This can lead to a drop in supply of ferrochrome, which can also put downward pressure on the price.
JSE:MRFShort
by Timonrosso
Capitec showing strong downside to come to R1,528Inverse Cup and Handle formed on Capitec and the price has just been on a strong downside trend for the last year. We had a break below the brim level with indicators showing strong negative divergences. 200>21>7 RSI>50 - Mixed Target R1,528 ABOUT THE COMPANY Capitec is a South African retail bank that was founded in 2001 and is headquartered in Stellenbosch, Western Cape. The bank has been recognized as one of the fastest-growing retail banks in the world, with over 16 million customers as of 2021. The bank offers a range of low-cost products and services, including savings accounts, loans, and insurance. In 2017, Capitec was named the best bank in the world by the Lafferty Global Awards, which recognized the bank's focus on customer service and its commitment to financial inclusion. The bank has a market capitalization of over ZAR 200 billion as of March 2023.
JSE:CPIShort
by Timonrosso
UPDATE Thungela still showing medium term downside but is slowLarge H&S since May 2022 formed which gave a Medium term trade. Since it broke down, I know it would take a longer period for the price to drop due to the size of the formation. Remember, companies will try everything in their power to keep the price up and without a strong negative catalyst, the formation will either play out or forma another pattern in the interim. The bias is negative until we see any upside potential. 200 >21> 7 - Bearish (Red) RSI <50 Red Target R88.70 ABOUT THE COMPANY Thungela Resources is a South African coal mining company that was spun off from Anglo American in June 2021. The name Thungela means "ignite" or "spark" in Zulu, which reflects the company's focus on providing energy to power the economy and society. Thungela Resources operates four open-pit coal mines in South Africa's Mpumalanga province, which produce thermal coal used in power generation. The company's mines have a combined production capacity of approximately 17 million tonnes of coal per year.
JSE:TGAShort
by Timonrosso
Santam showing strong upside to R345 but with a warningSantam large Cup and Handle formed, broke above the brim and now is going to test the support. This will provide a conservative entry if we get a bounce back up. 7>21>200 - Bullish RSI>50 Target R345.37 The warning is that it's been moving in sideways range for over a year, and it often peaks then drops and continues. As the JSE ALSI is in a bear market at the moment (on smaller time frames) might delay the upside. But the system says go long. ABOUT Santam is a South African short-term insurance company founded in 1918, making it one of the oldest insurance companies in the country. Santam is headquartered in Cape Town, South Africa, and operates throughout the country, as well as in Namibia, Botswana, and Zimbabwe. Santam provides a wide range of insurance products, including car, home, business, and personal insurance. Santam is a subsidiary of Sanlam Limited, a leading financial services company in South Africa. Santam is the largest short-term insurer in South Africa, with a market share of around 22%.
JSE:SNTLong
by Timonrosso
Major sell signal on The Foschini Group to R89.50Inverse Cup and Handle formed on The Foschini Group. We then had a major break below, showing that the supply side was dominating the market. We have other confirming indicators of downside to come. 200>21>7 - Bearish RSI <50 Target R89.50 ABOUT The Foschini Group (TFG) (Founded in 1924 as a men's outfitter store by Jewish immigrant, Samuel Foschini.) is a South African fashion retail company headquartered in Cape Town, South Africa. TFG is divided into four main operating divisions: TFG Africa, TFG London, TFG Australia, and TFG New Zealand. TFG's brands include Foschini, Markham, @home, Totalsports, and Fabiani, among others. In 2021, TFG was ranked as the 51st largest retailer in the world by Deloitte, based on its retail revenue of US$4.2 billion.
JSE:TFGShort
by Timonrosso