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Naspers break in uptrend structure - BearishAfter a fantastic long trade with Naspers, it's eventually broken below the Uptrend structure. This means, the price is now in free fall and is more likely to touch the previous support (brim level of the last Cup and Handle). 7=21 price>200 - Reversal RSI <50 - Bearish Target R2,766.00 As always it is correlating with Tencent and Prosus... We saw a sluggish market in Asia session with the banking holiday effect in America. Hong Kong stocks slump as Chinese tech giants step up rivalries, HSBC in focus as market await corporate earnings boost. The Hang Seng Index declined 1.7 per cent to 20,529.49 at the close of Tuesday trading, the biggest drop in over a week. The Tech Index tumbled 3.6 per cent while the Shanghai Composite Index added 0.5 per cent. The benchmark index has lost nearly 5 per cent in the past two weeks as hedge funds withdrew from the market. With Tencent dropping 4.5% this is why we saw a large breakaway gap with Naspers. Caution is needed with such volatility.
JSE:NPNShort
by Timonrosso
Rising Flag on Curro just broke down target R8.13Rising Flag formed on Curro. Previous trend was down, we then had a slight recovery before further downside. Now that the price has broken below the support, we can expect a retracement. 200>21>7 -Bearish RSI=50 Target R8.13 ABOUT THE COMPANY Curro Holdings is a leading independent education provider in South Africa, founded in 1998 by Dr. Chris van der Merwe. The company operates more than 70 schools across the country, serving over 66,000 learners from pre-school to high school. Curro Holdings offers a range of educational options, including: Traditional classroom-based learning, Home-schooling, Online learning. The company is known for its innovative and progressive approach to education, with a focus on technology, entrepreneurship, and 21st-century skills. It has a market cap of over R30 billion. The company has expanded internationally, with schools in Namibia and Botswana, and plans to open more schools in other African countries in the future. Curro Holdings has a comprehensive teacher training and development program to ensure that its educators are equipped with the skills and knowledge they need to provide high-quality education.
JSE:COHShort
by Timonrosso
Adcock showing strong upside to R57.61 but with warningInv Head and Shoulders formed on Adcock and now the price is above the neckline showing upside to come. 7>21>200 RSI>50 Bullish CONCERNS: This is a very volatile, flimsy and illiquid stock compared to the Blue Chips. I call these unhealthy charts which seldom work well with breakout patterns. Maybe as a Weekly analysis or Monthly will show some more promising price action, but daily is dangerous by just looking at it. Target R57.61 ABOUT Adcock Ingram is a South African pharmaceutical company that was founded in 1891 by Thomas Adcock and Joseph Ingram. It has a market capitalization of over R9 billion (Hence Medium Cap company that I don't like to trade). Adcock Ingram is one of the top pharmaceutical companies in South Africa, with a strong focus on the manufacturing, marketing, and distribution of healthcare products. They are also known for their insulin and penicillin. It has a ton of products, including over-the-counter medicines, prescription medicines, and medical devices. Some brands which I'm sure you know and helped you through Covid and your sick days are: Corenza: A popular brand of cold and flu medication in South Africa, known for its effervescent tablets. Linctagon: A range of cough and cold medications that includes lozenges, syrups, and capsules. Compral: A well-known brand of pain relievers, including tablets and capsules. Probiflora: A range of probiotic supplements designed to support digestive health. Bioplus: A popular energy supplement that is available in a variety of formulations, including capsules and effervescent tablets. Panado: A brand of pain relievers that is commonly used to treat headaches, fever, and other common ailments. Sominex: A sleep aid medication that is used to treat insomnia and other sleep disorders. Adcock Ingram has a strong presence in the African market, with operations in over 10 countries on the continent.
JSE:AIPLong
by Timonrosso
MTN neutral stand with a bullish bias with to R157.65 -Confused?Box Formation formed on MTN and the Prev. trend up We need the price to break either ABOVE or BELOW the formation before I make any decisions. The funny thing about MTN is how consistent the sideways moves have been for decades. It has a personality of its own and is only something you pick up after being in the markets for a few decades. Anyway, I like to think my bias is bullish but the signals are mixed. 21>7 price>200 - Mixed RSI<50 - Bearish Bias bullish target R157.65 ABOUT MTN Group Limited (over R200 billion market cap) is a multinational telecommunications company headquartered in Johannesburg, South Africa. The company was founded in 1994 and has operations in over 20 countries in Africa, Asia, and the Middle East. MTN is the largest mobile network operator in Africa, with over 280 million subscribers The company offers a wide range of telecommunications services, including voice and data services, mobile money, and digital services. In addition to its mobile network operations, MTN has also invested in a number of other business ventures, including e-commerce, fintech, and energy services.
JSE:MTN
by Timonrosso
1
Omnia Holdings update still coming down to R54.82Head and Shoulders formed last year and the pattern is still in tact. SInce the breakdown there has been a strong range bounded formation which has made this trade very lacklustre to hold. Now that it's broken below the rectangle shows a more promising move to the original target. 200 >21>7 Target R54.82 ABOUT OMN Omnia Holdings is a South African chemicals and fertilizer company that was founded in 1953. The company operates in over 50 countries, with a focus on Africa, Europe, and South America. Omnia has three main business segments: agriculture, mining, and chemicals. The company's agriculture division provides a wide range of crop nutrients and plant protection products to farmers. Omnia's mining division supplies explosives and blasting services to the mining industry. The chemicals division produces and markets a variety of chemicals, including acids, alkalis, and organic and inorganic compounds.
JSE:OMNShort
by Timonrosso
ARI showing downside after a break below a strange patternI don't know if such a pattern exists but I call it a Reverse Cup & Handle. This is where the Handle (small rounding top) is on the left side of the cup (Big rounding top). Now that the price has broken below, we can expect supply side to bring the price down. 21>7>200 - Bearish RSI<50 Target R219.52 ABOUT ARI African Rainbow Minerals (ARM) is a South African diversified mining and minerals giant. The company was founded in 2004 by Patrice Motsepe, a South African billionaire businessman and philanthropist. ARM has interests in a wide range of minerals, including platinum, coal, The company's platinum division, ARM Platinum, is the world's second-largest platinum producer. ARM also has a 50% stake in Two Rivers Platinum, a joint venture with Impala Platinum Holdings. There are over 11,000 employees with a Market cap of over R30 billion - Blue Chip
JSE:ARIShort
by Timonrosso
Jubilee metal plummeting after a dangerous pattern target R1.16We saw a Breakout Falling Wedge pattern form on JBL. The price then broke above BUT did not confirm and penetrate above the 200MA. This caused a major fakeout and shakeout and caused the price to drop. Sometimes this type of move is a stronger indication of a reversal. Hence, the price has broken below the Falling Wedge and now has a target of R1.16. 200 >21>7 MA - Bearish RSI <30 - Bearish Target R1.16 LESSON LEARNT When a Breakout pattern fails and breaks below the pattern, this can confirm a major reversal and a high probability trade in the other way.
JSE:JBLShort
by Timonrosso
ATTAC going to the Attic at R10.64Large Cup and Handle formed on Attacq. It formed the Brim Level and then the price broke out of a Breakway gap into a new uptrend 7 >21>200 0 Bullish RSI>70 - Bullish Target R10.64 Breakaway gap ABOUT Attacq Limited (Founded in 2005 in Waterfall City, Midrand) is a South African-based real estate investment trust (REIT) that focuses on the development, investment, and management of real estate assets. Attacq's main focus is on developing and managing mixed-use precincts, which are large-scale developments that integrate various elements such as residential, commercial, retail, and hospitality spaces. The company's flagship development is the Waterfall City precinct, which spans over 1,000 hectares and is located between Johannesburg and Pretoria. They have a diverse portfolio of properties that includes retail centers, offices, residential properties, and industrial properties. The company operates in South Africa and other African countries such as Mauritius and Mozambique.
JSE:ATTLong
by Timonrosso
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
Transaction Capital in a strong downward range to R26.46Falling Range is a trend channel bearish 200> 7<21 Target R26.46 CONCERNS: A trend channel is never as strong as a breakout pattern. The reason is the price can move in a sideways range before it continues its down or up leg. Also the price doesn't always touch the edge of the channel. I would wait for a breakout before I decide whether to buy or sell. ABOUT: Transaction Capital (Est. 2001 in JHB SA) is a South African financial services company that provides a range of services, including debt collection, vehicle and asset financing, and insurance services. Transaction Capital has a strong presence in SA including Zimbabwe, Zambia, and Mozambique. The company's debt collection division is one of the largest in South Africa, serving both consumer and commercial clients. With their asset department they provide financing solutions for a range of assets, including vehicles, trucks, and earth-moving equipment. The company's insurance division offers a range of insurance products, including motor, household, and life insurance.
JSE:TCPShort
by Timonrosso
Redefine showing downside to R3.20 thanks to a Symm TriSymmetrical Triangle formed on Redefine. We saw the price breakout to the downside. 21>7 >200 MAs - Mixed RSI <50 Bearish divergence Target R3.20 ABOUT: Redefine Properties Limited (Est. 1980s in JHB SA) is a leading South African real estate investment trust (REIT) and one of the largest property owners and managers in South Africa. It has a diverse portfolio of properties that includes office, retail, industrial, and residential properties. The company's portfolio of properties is valued at over R100 billion and spans across South Africa and several other African countries, including Zimbabwe, Namibia, and Mozambique.
JSE:RDFShort
by Timonrosso