$JSEMNPJSE:MNP
Developed falling wedge from December 2018 to Novembr 2019. At the begining for November 2019 broke above with projected target in the zone between 38000/38500
In mean time it went down and back tested falling wedge in January 2020.
There is smaller cup and handle pattern that developed over last two months. Target for that pattern is around 37000.
If $JSEMPN breaks above 33250/33300 and close above cup and handle will confirm and first target around 37000 will be in play.
Second target should be falling wedge projections around 38000/38500 area.
Jsetop40
$JSEBHPJSE:BHP
Trying to break above falling wedge on hourly chart, we had close above.
More strength around here will push price towards 34800 and gap close.
J211 INDI25JSE:J211
After false break lower in 2019, index run all the way to the top of the range.
Probably will consolidate now before it tries to break higher.
ADCOCK INGRAM HOLDINGS (AIP) SHORTThough it possible that we might see the prices move up towards the descending trendline, it is also probable that once prices break the 5 200 pyschological level, more sellers will enter this market. Prices are below the 200 exponential moving average on all major timeframes, signaling a bearish bias. The market could likely open with a gap down considering that they closed at such a price (5 200).
Sell: When the price breaks below the 5 200 psychological level, or when the price rejects the descending trendline.
This trade will be null and void if the price breaks above the descending trendline and continues to make a series of higher highs and higher lows.
JSE Allshare shortThe JSE Allshare came off resistance, turning down from overbought levels. Round numbers for a 2:1 reward to risk trade - Short at 57000 with a stop at 58000 and a target of 55000.