$JSE-OMUJSE:OMU
Trading in well defined range from October last year.
News on Friday about CEO been fired pushed stock out of the range but it quickly recovered and closed inside range.
So far not much to be done. Wait for break of the range.
Jse_top40
$JSE-BHPJSE:BHP
Support around 31800 held and now even small down channel was broken.
Looks bullish to me at least until stocks hold above 31800
$TOP40 Head & Shoulder Breakdown (bearish)The top40 index (J200) has now broken two very important levels and is not looking healthy at all! Firstly we have broken down from the rising channel which has been in place for the best part of this year. Secondly, we have today broken below the 49200 level which is the neckline and horizontal support of the head & shoulder pattern. Based on the break of this neckline, the pattern projects a target of 45000.
$JSE-MCGJSE:MCG
Not sure why anyone would go long MCG but chart points to more upside if flat top triangle is broken.
This is hourly chart.
$JSE-SLMJSE:SLM
Trading in 7500-8000 box over last two months, currently testing bottom of the box.
Break bellow will open 7000 as target.
$JSE-TBSJSE:TBS
Testing 24000 once again. If it breaks lower (and looks like it will) next support around 20000.
SASOL (SOL) 1-HOUR TIMEFRAME SHORTThis stock is moving in a downtrend, and the weekly timeframe shows a possible right shoulder forming. A break of the neckline on this weekly timeframe will signal further bearish momentum. On the 1-hour timeframe, price are trickling down as the momentary uptrend has finished and prices are below that ascending trendline, forming a series of lower highs and lower lows and also forming a series of bear flag patterns. My figures are as follows:
Entry: Now
Stop Loss:44 000
Target Take Profit: 40 000
Is it just a coincidence that the crude oil prices are also falling? We will never know.
Buy opportunity on South African stocks.The market is approaching the 48,940 Support. 1M is supported there (RSI = 52.867, MACD = 574.500, Highs/Lows = 0.0000) and the current dip is a solid medium term buy opportunity. Assuming that a roughly -2% Lower High sequence will be maintained we place the next medium term target at 52,200.
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$EURZAROANDA:EURZAR
Symmetrical triangle in making break bellow 15.90 will be bullsih for ZAR.
Go mighty rand !!!
$JSE-LHCJSE:LHC
Making bearish flag after big drop. Last 3 days found resistance around 2700.
First target for flag around 2550.
$JSE-SHPJSE:SHP
Trying to break above big box developed over last few months.
So far looking good for bulls.
$JSE-CFRJSE:CFR
Looks as good buy above 10600 with stop loss at 10400 and target gap close around 11000.
$JSE-INPJSE:INP
Making inverted head and shoulders with neck line around 9500.
Break above 9500 will target high around 10500.
