W Formation formed on Sanlam and the price has broken above the neckline. Nature: High Probability Price>20 and 200MA Downtrend broken which tells us the bulls are in charge (action line) Target R97.11
In the last analysis I mentioned, Sanlam was forming a falling flag. That was for the buyers and sellers to balance based on the previous phenomenal growth it had. Since then the price is above the Falling Flag ad is showing even more upside (passed my target). But we will be generous and do another analysis if it surpasses the first place....
Since the last update, Sanlam formed a Falling Wedge, The price broke up and out of it and headed up. Then the sellers kicked in and tried to bring the price back down. However, the new established support was proven to be what kept the bulls strong. This was also a great opportunity to go long and buy the conservative entry level. Before we knew it, the...
JSE:SLM Everything says don't do it. The trend is exceptionally strong with this one. But if you have a penchant for masochism, note that: - Momentum has slowed in recent days. not faded, but slowed. - RSI @77 is ready for some normalization - MACD has slowed and started abating somewhat. Technically it looks like it's stalling in a nicely defined supply...
Falling Wedge formed since 1 Feb 2023. Only yesterday, we had the confirmed breakout showing strong buying and demand. Price>200 Bullish RSI >50 Target R63.69 SMC Below the Wedge we have Sell Side Liquidity Order block. Where Smart money is buying where retail were selling. This gives a strong signal that high buying volume was trumping selling. Very bullish...
JSE:SLM breakout with massive volume. The price is also above the 2022 mid-August high of R59.50/share. Financial services could be onto something.
A short was triggered on JSE:SLM this morning and it has already moved quite nicely in our favour. Let's hope this momentum continues all the way to our take profit level.
A piercing line candle pattern has formed on JSE:SLM . This is a good bottom reversal signal. If it plays out, we could be seeing a nice upward move from here. Target levels at the highs from mid-Feb.
I've taken a position in Sanlam at R62.52, expecting it to break 20% to the upside within the next 6 months. I have a stop loss at around R54 - which will confirm a lower low. At the moment, I am seeing an ascending triangle formation with strong resistance at R65, and higher lows after each pullback. I believe it will break to the upside as this is a bullish....
JSE:SLM broke the downward trend that it was trading in since July 2020 when it formed higher highs in early November 2020. Since then, it has been consolidating and has found significant support on the 200 Moving Average. I will wait for a breakout of the consolidation zone, and if it breaks through the 6000 level, I will consider a long position.
JSE:SLM seems to be heading up from the lows it reached at the end of October. The stochastic, MACD and exponential moving averages are all confirming this move on our trend-following momentum strategy.
With Friday's upward move, JSE:SLM has convincingly broken through a descending trendline that it has been obeying for quite some time. If it continues upward, I will consider a long position all the way up to the previous resistance level around the 7000 price range. The stochastic, MACD and EMA's are all confirming this upward momentum.
JSE:SLM is looking decent for a potential long position if it breaks through the downward trendline that it has been forming since July. Keep an eye on this to see if it breaks and confirms above to signal a long position.
A re-test of R60 is on the cards. Low volume and potentially a reversal candle could signal a long opportunity on SLM. One to watch this coming week.
A bearish flag pattern has formed on JSE:SLM . If the price breaks through the bottom of the flag we could possibly see a nice downward move.
Sanlam has spent the last couple of weeks consolidating in the form of a bearish rising wedge formation. The move higher off the lows has appeared on lower volume which gives bulls little confidence in this move. Should we manage to see a convincing close below the rising wedge at +- R56.00, this rising wedge could play out with a downside target of R41.50. What...
JSE:SLM has broken through and upward trend as well as a fractal level and is busy forming lower lows which could be a sign of trend reversal. It is looking good for a short position with lots of downward momentum.