Jsetop40
$JSE-BTIJSE:BTI
After initial and strong move up, $JSEBTI was consolidating is something that looks as bull flag.
Today we had strong break out on big green bar.
Target for this move according to AB=CD is around 68000.
$JSE-MTNJSE:MTN
Trying to break 10600 level after consolidating in range for few weeks.
Break above 10600 will open target around 11600.
$JSE-MNPJSE:MNP
Is in down trend and currently breaking head and shoulders pattern intra day.
Target around 28800/29000
$JSE-TKGJSE:TKG
Great example of "From false moves comes fast moves"
or
"Buy on rumors sell on fact"
In both cases $JSETKG is ready to go down.
$JSE-CFRJSE:CFR
Making flat top triangle. Area around 11200 will act as resistance.
If it breaks above more upside.
$JSE-LHC weekly chartJSE:LHC
Hitting some serious support.
Will it hold or next leg of downside coming, and could be big.
Possible buy on Bidvest LtdFor the best part of the last six months, Bidvest Ltd has been trading in sideways range of between R212 and R192.
It recently broke above R212, going all the way up to R224.58 but didn't manage to hold the level. The stock is now trading back at support around R192. It is interesting to note, while the stock is sitting on support, the Slow Stochastic is also indicating the stock is oversold.
For this reason, I would be looking to buy now with the idea of selling as the stock makes it's way back to the upper resistance level.
Action: Place a Limit Order to go LONG with your Limit Price set to R195.00. Set your Stop Loss to R184.00 and your Take Profits to R205.00 and/or R212.00.
$JSE-SLMJSE:SLM
Tested support around 7100 once again. Break bellow will be quite bearish for the stock.
$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-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
ASPEN PHARMACARE (APN) DAILY TIMERAME BUYI am expecting a bullish momentum as we complete a correction pattern, before further downside. Targets should be at the top of the flag pattern and position size small, as we are in a downtrend.
J200 - TOP40 JSE:J200
For people that like fractals.
Drop in October 2018 was 12 days long and drop 9% from the top or some 5000 points
Current drop is 13 days long same 9% and almost same 5000 points.
So if history repeats itself TOP40 should bounce for the first pull back.
But as it stands now this will be just pullback and more downside is on cards.
$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.
