A large expanding wedge structure on the Weekly timeframe. A channel can be drawn using a higher low which reveals a path towards the top of this structure. Lets see what happens.
The mainstreams media hype with Russia cuttoff oil will be over soon... as crude oil is properly working out head and shoulders pattern
Technical Wise: After breaking out of the downtrend, it has been consolidating with healthy volume. Price also moving in higher low while the share price holding above 200-EMA. With this formation, I am expecting to see the price to challange recent high again and has upside potential of 70% which can meet RM 2.7, in mid-to-long term. Like my post on Malaysian...
MSM - Changes direction from breaking the downtrend line. Pending Resistance to break at 1.41.
Personally, what I learnt is there must be a Technical Analysis Strategic Plan in order to increase the risk-to-ratios favourable risks. 1. Draw Support & Resistance 2. Identify the stages (Accumulation, Advancing, Distribution, Declining) 3. Entry Triggers 4. Stop Loss 5. Exits I have learnt during my past mistakes that we should let the stock price comes to...
High volumes in Massmart is pushing the price higher and buying is becoming ever increasingly desperate. A bigger bar than has been seen with some volume but not that high is showing that the has been bought up by the "Composite Operators"/"Strong Hands" and there is not enough stock to satisfy the demand. This should push the price higher.
A move below Friday's lows of R34.60 will trigger the short idea with a stop loss above R36.30. Target will be R30.
This is not a financial advice - Open to criticism and feedback MSM -MASSMART HOLDING LTD Current Price R24.68 I'll be honest I looked at all timeframe to try and find something bullish about this chart but all I can see is the price going to R20 at the very least. If you want to play this I suggest placing orders at R19.45 - R18.85 or there about to try and...
Massmart has seen high volume from buyers pushing price up. After a short accumulation range price is now being marked up. Price has broken the 200 day sma. The relative strength has turned up and there is negative divergence on the volume RSI indicating effort without response.
Massmart has been a serious under-performer in the retail sector this year, shedding some 37% off its levels seen at the end of last year. With the SARB likely to cut interest rates at their meeting next week, perhaps this will be a little kicker for consumers which should benefit most of our local retailers. The share may be just a little too oversold for the...
"On Wednesday the share tested and rebounded off the prior swing lows between 102 and 103.50. This appears to be a range-trading opportunity, with the upside target being the prior highs of 119. " Lester Davids, Trading Desk analyst, Unum Capital. Keep an eye on USDZAR as this will continue to impact South African retailers.