MONDI Strong W FormationMARKET: Mondi ( MNP )
TYPE: Long (buy)
ENTRY: R288.42
STOP LOSS: R264.28
TAKE PROFIT: R324.76
REASON: W Formation
Breakout of medium downtrend
Moving average 7>21 - Bullish
Medium probability trade
Jsetop40
City Lodge crashing down to R2,29Rising Wedge broken down
Inv C&H broken down
From the previous major fall, it seems like buyers and volume of demand is just not weighing up.
I can see this stock crashing down to the next target R2.29
What do you think?
Jubilee to run up in the near futureBullish Falling wedge
Right now Jubilee is still in a range (Falling Wedge)
The sign that it'll break up is based on the previous uptrend. Price has been coming down but on a very low range and it doesn't seem quite convicing.
I want to say if the price breaks up we could see a target of R4.23
CONCERN
If the price breaks down, we could also see a target of R1.18
The analysis is neutral right now, but I'm leaning more to the long (bullish) side.
PAN AFRICA Neutral analysis but hoping upSymmetrical Triangle
Equal chance of a breakout.
Break up - Target R6.04
Break down - target - R1.00
NEUTRAL ANALYSIS
I do have hope for Pan Africa as it's one of the rare companies that deal with innovative technology for gold extraction. Also with inflation kicking in, this will pick up the price of gold which could help gold companies who are exporters.
I want to guess the break will be up, but we can only know when it happens.
Glencore buying the hedgeCHALLENGE TRADE IDEA:
MARKET: Glencore (GLN)
TAKE PROFIT: R120.00
REASON: Bullish Diamond formation with rising lows on RSI.
What are your thoughts?
AFRIMAT falling on the floor Afrimat has formed another unusual and rare breakout pattern - Reverse Inv Cup and Handle.
This is where the handle is on the left and the cup is on the right...
The fact that the price has broken below the brim level and the RSI is making lower highs and is below 50, means there is further downside to come.
Looks like R22.00 is on the cards for the stock.
Naspers retested and now coming down CHALLENGE TRADE IDEA:
MARKET: Naspers (NPN)
TAKE PROFIT: R1516.90
REASON: Bearish Symmetrical Triangle and lower highs on RSI
What are your thoughts?
Glencore Diamond Diamond formation
Higher probability for upside
Target R120.00
Concerns:
If price breaks below the Diamond, it will crash hard to R76.
But right now the signs are pointing up.
MTN also showing a crash Inv C&H formed over the last couple of months.
Broke below brim - R135.00
Target 1 R70.10
Ellies BearishEllies is not looking good. It's been a strong downtrend since 6 Dec 2021 from 46c down to its current 16 cents...
There are two ways this can play. Either, they sort out their issues and buyers start piling in which will break above 18 cents to go to a target of 26 cents.
Or the sellers continue which plummets the share down to 8cents.
The truth is the charts are showing downside. Descending Triangle, Moving averages all down, Price broken below the Support line. So I'm going to have to say Bearish, sorry.
Thank you for the suggestion. Any other markets you'd like analysed?
Hulamin looking strongBULLISH
Ascending Triangle formed on 4 hour
We are just waiting for a break above R2.98
Price >200MA
Target 1 - R3.80
Concern is that the previous trend is down and the uptrend could very well fizzle but the bias is still bullish.
ETO a Penny to NOT drop in the next few monthsA distorted but form of Cup & Handle has formed in the 4 hour chart...
The price has broken up and above the Brim Level as of in the last couple of weeks.
It's now showing strong upward momentum to come with the 1st target to 75 cents...
Also we have a gap that is ready to close (hence more bullish signals).
BULLISH!
JSE Top40JSE:J200 is back at the recent lows (58.6K-ish). Most stocks are weak, what are the odds that the Top40 can bounce here? Add the middle of nowhere low near 56K. Rough market.
STXRES Satrix Resources. Channel SupportChannel support on the Satrix Resources ETF seemed to have held. Possible target could be the top of the channel. I have a position. Be nimble in these volatile markets.
More downside for the JSE ALSI40 - INV C and H - 15 JUly 2022The breakout hasn't been a strong one to the downside, but it's still below the current support (which has become a resistance).
If a catalyst breaks out to send the markets further down, we could see 50,000 on the cards...
What do you think?
Trade well, live free.
Timon Rossolimos
Founder, MATI Trader
NPN - the bus is leaving?I'm looking at weekly and monthly chart, waiting for breakout from downtrend. Taking conservative view so would find more comfort on breakout when price moves above 2750/2800. Plus, Chinese regulatory issues appears to be priced in.
- MACD crossover
- breaking previous support
Steinhoff - Long - 21 January 2022Look who seems to be making a come-back - Steinhoff
First target around R6.43 due to a Rounding Bottom
BREAK OUT ON DRD is a Rally the breakout on the channel we will see a new rally on the share price the test can continue further as indicated on the support that can be a good buy before the breakout
SAPPI Touching 200DMA. Will it bounce?JSE:SAP Touching the 200DMA today, with the 38.2%retracement off the lows, and 127% expansion off the highs coming into play.
J200 Analysis With all the tension happening in the US stock markets it could have a severe impact on South African markets as well. This is an analysis of the JSE TOP 40. If inflation goes up enough in American markets the federal reserve could take actions to raise interest rates, meaning higher rates reduce stock valuations because why? They weaken the present value of future cash flow of companies traded. And as we all know the US market effects all markets.
Disclaimer: This is not investment advice just a light warning and please invest with caution!
Best of luck.
SASOL Limited Daily Timeframe AnalysisNot sure what the market is doing right now, but if I had some shares, I would hold.
