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Southafrica

Absa showing downside to R135.00 - SMC also appliedPATTERNS: Absa is forming one of the two Either an Reverse Inverse Cup and Handle . Now price is broken below the handle, the chance is that it'll head to R135.60. Or it's forming a head and shoulders where the Right Shoulder is now ready to form (upside) then downside to the target. 21>7 - Bearish Price<200 Bearish RSI<40 - Bearish SMC: We can see a Bearish Fair Value Gap has formed. This is where the 1st and 3rd candle does NOT overlap in price. The market now will want to rebalance and move up into the gap to fill the orders before it comes down. Hence, this is when the Right Shoulder will form. If the price goes back up it'll give a short term BUY SMC to R185.00 If the price continues down then the target will be R135.60. Regardless, the overall trend and bias is down in the medium term.
JSE:ABGShort
by Timonrosso
Sappi showing strong downside to R42.39 thanks to a TriangleSymmetrical Triangle formed on Sappi. This is where a pattern moves neither up or down just sideways. We then had a break down, which confirmed the trend direction. 200>21>7 - Bearish RSI<30 - Bearish Target R42.39 INTERESTING FACTS Sappi Limited is a South African pulp and paper company founded in 1936. The company has operations in over 40 countries across the world. Sappi produces a variety of products, including printing paper, packaging paper, and speciality paper. The company is the world's largest producer of dissolving wood pulp, a key ingredient in the production of rayon and other textiles. Sappi is also a leading producer of graphic paper, which is used for printing magazines, brochures, and catalogs. It's also traded on the NYSE!
JSE:SAPShort
by Timonrosso
UPDATE: Goldfields hit stop loss - but I warned you Inv Rev Cup and Handle formed and the price broken below the Brim level. There were mixed signals with the indicators and I warned you that we need the price to break and confirm below the 200MA. Which obviously, it tested reversed, Smart Money jumped in swept liquidity and pushed the price up. However, it's not just Smart Money to blame. Gold had a bit of reverse as investors had no idea where to put their money in. They are freaking out with the bank crisis in 2023. They are freaking out with Silvergate and crypto exchanges still liquidating. They are freaking out with these fears of high interest rates coming in the US. So as bitter as it hit the stop loss, it gives us a fantastic hedge for long side with Gold incase we get a pump catalyst with the market soon (which I doubt). I will be waiting for bulish signals to buy Goldfields. Let's see.
JSE:GFILong
by Timonrosso
TARGET HIT City Lodge hit the target at R3.71 but I'm not happy Bear Diamond Pattern formed on City Lodge a few weeks ago. We then had a strong break down, which showed a big collapse to come. We set our target at R3.71 which many traders thought I was crazy. I told them I hope I am wrong, because I don't like when companies drop in value who offer great value to customers. But the charts showed downside and I couldn't be biased. The target hit and unfortunately, we still see downside to come. I'll be waiting for the next formation in the meantime.
JSE:CLHShort
by Timonrosso
UPDATE: Transaction Capital hit my Take profit but I'm pissedFalling Range formed on TCP and there was a trend channel bearish 200> 7<21 All the signs were showing downside to a target at R26.46. Which it hit. If I held it just one more day it would have gone to R14.50. But that's trading for you. Now with the gaps and panic selling, we can expect some accumulation to form bringing the price up to close the gap. Then we will need to wait for the next formation and pattern to form. I'll await and let you know
JSE:TCPShort
by Timonrosso
2
UZThis is very nice, because it is slightly textbook. Yet knowing the fundamentals of the country, we will break through any sell bias you can think of. One day my goal would be to push that price all the way to either less R5/$ for a dollar or even to 1:1. For now I just would like to set a realistic goal of under R15/$. With the right leadership and the fight in our hearts we could and we will and when it happens, I'll come back to this post and clap for us as a nation. 🫱🏿‍🫲🏿🍾👑😁
by Mhangwane1
Life Health Care group showing strong upside to R21.39 WARNINGW Formation since Sep 2022. It's been moving in a sideways range without any promising direction. Then in February we had a breakaway gap. This is where the price jumped from the sideways range into an uptrend. And most sellers and stop losses were hit. This showed strong upside to come. 7>21>200 RSI>50 Target R21.39 WARNING Gaps like to close 70% of the time. And I don't generally like taking any trades where there are prior gaps. I'd take this trade as a medium probability one.
JSE:LHCLong
by Timonrosso
UPDATE: Naspers short confirmed to target R2,766Break in Uptrend structure confirmed and we are no longer in an uptrend. We've been in a sideways range and now entering a bear market as of today. We now have a largeish Inv Cup and Handle with a few bearish signals. 21>7 - bearish price>200 - Bullish RSI <50 - Bearish lower highs Target R2,766.00 WARNING Even though we expect the price to drop, it's only correcting back to the 200MA zone. Once the price gets there, we'll see a test between the bulls and bears before a chosen direction is established.
JSE:NPNShort
by Timonrosso
Prosus hit our target up at R1,446 now expect downsideTarget hit at R1,446 recently from a larger Cup and Handle. And since then we had the price go up one more day before entering into a strong sideways range. During this time it formed an Inv Cup and Handle with a few bearish signals. 21>7 - bearish Price>200 - Bullish Target R1,1033 RSI<50 Bearish WARNING Even though we expect the price to drop, it's only correcting and equilibrating back to the 200MA elastic mean zone. Once the price reaches here, there'll be a test between the bulls and bears before a chosen direction is established.
JSE:PRXShort
by Timonrosso
USD/ZAR target hit at R18.48 & we have another dreadful target It pains me to say our USD/ZAR trade hit the take profit level at R18.48 and now it looks like further upside for the USD is on the way. Another Cup and Handle has formed, which has broken above the neckline. And if we place the stop loss below the handle, we get the next target at R19.71. 7>21>200 RSI>50 Target R19.71 With interest rates on the rise in America after Daddy Powell mentioned more upside to come, meanse investors will continue to invest in the US dollar with high income yielding assets like Bonds, Money Markets and High interest savings rates options. As long as interest rates (or the fear of them) continue up, we will continue to see US dollar strength which will bring down many other exotic currencies like the rand.
Long
by Timonrosso
PPC trade update - still looking good for a long to R4.29W Formation is still in effect with PPC. 7>21 - Bullish Price > 200MA Bullish RSI>50 >70- Bullish Target R4.29 This is a patience game now. Here's some facts about the company PPC Limited was founded in 1892 as De Eerste Cement Fabrieken Beperkt and is headquartered in Johannesburg, South Africa. PPC is the acronym for Pretoria Portland Cement, which is the original name of the company. The company operates in six African countries, including South Africa, Zimbabwe, Botswana, Rwanda, Ethiopia, and the Democratic Republic of Congo. It produces a range of cement products, including Portland cement, Surebuild, Rapid Hard, and 3Q Mahuma, which are used in a variety of construction applications. The company has a strong focus on sustainability and has implemented a range of initiatives to reduce its environmental impact and promote social development in the communities where it operates. It has a market capitalization of over ZAR 2 billion as of March 2023.
JSE:PPCLong
by Timonrosso
Capitec showing strong downside to come to R1,528Inverse Cup and Handle formed on Capitec and the price has just been on a strong downside trend for the last year. We had a break below the brim level with indicators showing strong negative divergences. 200>21>7 RSI>50 - Mixed Target R1,528 ABOUT THE COMPANY Capitec is a South African retail bank that was founded in 2001 and is headquartered in Stellenbosch, Western Cape. The bank has been recognized as one of the fastest-growing retail banks in the world, with over 16 million customers as of 2021. The bank offers a range of low-cost products and services, including savings accounts, loans, and insurance. In 2017, Capitec was named the best bank in the world by the Lafferty Global Awards, which recognized the bank's focus on customer service and its commitment to financial inclusion. The bank has a market capitalization of over ZAR 200 billion as of March 2023.
JSE:CPIShort
by Timonrosso
UPDATE Thungela still showing medium term downside but is slowLarge H&S since May 2022 formed which gave a Medium term trade. Since it broke down, I know it would take a longer period for the price to drop due to the size of the formation. Remember, companies will try everything in their power to keep the price up and without a strong negative catalyst, the formation will either play out or forma another pattern in the interim. The bias is negative until we see any upside potential. 200 >21> 7 - Bearish (Red) RSI <50 Red Target R88.70 ABOUT THE COMPANY Thungela Resources is a South African coal mining company that was spun off from Anglo American in June 2021. The name Thungela means "ignite" or "spark" in Zulu, which reflects the company's focus on providing energy to power the economy and society. Thungela Resources operates four open-pit coal mines in South Africa's Mpumalanga province, which produce thermal coal used in power generation. The company's mines have a combined production capacity of approximately 17 million tonnes of coal per year.
JSE:TGAShort
by Timonrosso
Santam showing strong upside to R345 but with a warningSantam large Cup and Handle formed, broke above the brim and now is going to test the support. This will provide a conservative entry if we get a bounce back up. 7>21>200 - Bullish RSI>50 Target R345.37 The warning is that it's been moving in sideways range for over a year, and it often peaks then drops and continues. As the JSE ALSI is in a bear market at the moment (on smaller time frames) might delay the upside. But the system says go long. ABOUT Santam is a South African short-term insurance company founded in 1918, making it one of the oldest insurance companies in the country. Santam is headquartered in Cape Town, South Africa, and operates throughout the country, as well as in Namibia, Botswana, and Zimbabwe. Santam provides a wide range of insurance products, including car, home, business, and personal insurance. Santam is a subsidiary of Sanlam Limited, a leading financial services company in South Africa. Santam is the largest short-term insurer in South Africa, with a market share of around 22%.
JSE:SNTLong
by Timonrosso
Woolies showing a sell signal with an interesting observationM Formation formed on Woolies, The price broke below and all systems go with the Bearish Engulfing candle. 21>7 Price >200 Target R64.00 interesting that the target is to the 200 MA. This means, the price has rallied at such a high inclination, that the price now wants to approach equilibrium It's all we need for a trade. ABOUT Woolworths South Africa is a subsidiary of Woolworths Holdings Limited, a South African retail company founded in 1931. Woolworths South Africa operates in the food, clothing, and general merchandise retail sectors. Woolworths South Africa is known for its high-quality food products, including fresh produce, organic products, and artisanal bread. Woolworths South Africa has a loyalty program called MySchool MyVillage MyPlanet, which allows customers to support local schools and charities by shopping at Woolworths. ABOUT DAVID JONES In 2014, Woolworths South Africa acquired David Jones Limited for AUD 2.1 billion, with the aim of expanding its presence in the Australian retail market. The acquisition was seen as a strategic move for Woolworths South Africa, as it provided a platform for the company to expand its retail operations beyond South Africa and into the Asia-Pacific region. Since acquiring David Jones Limited, Woolworths South Africa has invested heavily in the brand, renovating stores, expanding product lines, and improving customer service. However, the acquisition has not been without its challenges, as the Australian retail market has been highly competitive and consumer spending has been affected by economic factors such as wage growth and housing prices. Despite these challenges, Woolworths South Africa remains committed to its investment in David Jones Limited and sees the brand as an important part of its long-term growth strategy.
JSE:WHLShort
by Timonrosso
1
Major sell signal on The Foschini Group to R89.50Inverse Cup and Handle formed on The Foschini Group. We then had a major break below, showing that the supply side was dominating the market. We have other confirming indicators of downside to come. 200>21>7 - Bearish RSI <50 Target R89.50 ABOUT The Foschini Group (TFG) (Founded in 1924 as a men's outfitter store by Jewish immigrant, Samuel Foschini.) is a South African fashion retail company headquartered in Cape Town, South Africa. TFG is divided into four main operating divisions: TFG Africa, TFG London, TFG Australia, and TFG New Zealand. TFG's brands include Foschini, Markham, @home, Totalsports, and Fabiani, among others. In 2021, TFG was ranked as the 51st largest retailer in the world by Deloitte, based on its retail revenue of US$4.2 billion.
JSE:TFGShort
by Timonrosso
Head and Shoulders on Pepkor with strong downside to R16.38Head and Shoulders formed on Pepkor a few days ago. The price broke below the neckline accompanying with other bearish signals. 200 >21>7 MA- Bearish RSI<50 - Bearish divergence with lower highs Target R16.38 ABOUT THE COMPANY Pepkor was founded in 1965 by Renier van Rooyen and his wife, Elsie. The company started as a small clothing store in Cape Town, South Africa, and has since expanded to become a major retail conglomerate. Pepkor operates various retail brands, including Pep Stores, Ackermans, Shoe City, John Craig, Dunns, and Tekkie Town. Pep Stores is the largest retail brand in the Pepkor group, with over 2,200 stores across Africa. Ackermans is another major retail brand in the Pepkor group, specializing in clothing and homeware. Shoe City is a shoe retailer with stores across South Africa. John Craig is a menswear retailer with stores in South Africa and Namibia. Dunns is a clothing and homeware retailer with stores across South Africa. Tekkie Town is a footwear retailer with stores across South Africa.
JSE:PPHShort
by Timonrosso
Inv Cup and Handle on Mr Price heading to R133.00Inv Cup and Handle formed on Mr Price. The price broke below the brim level and is showing downside momentum. There is a previous support that still needs to break before all systems go, but my signal definitely gives a sell here. Indicators all look bearish 200 > 21 >7 MA RSI <50 - Bearish divergence Target R133.00 ABOUT The company Mr Price was founded in 1985 by Laurie Chiappini in Durban, South Africa. The company started as a small clothing store called Mr Price Fashion, which sold affordable and trendy clothing for young adults. Mr Price has since expanded its product offerings to include homeware, sportswear, accessories, and beauty products. The company operates in South Africa, other African countries, and Australia.
JSE:MRPShort
by Timonrosso
Sasol Inv Cup and Handle just made it bearish to R221.11Inv Cup and Handle formed on Sasol. The price broken below the brim level. The gap was filled when the price went back up to close and form the right handle. Then the supply side kicked back in dropping it further. We also see bearish indicators. 200 > 21> 7 - Bearish RSI<50 (Lower highs) - Bearish Target R221.11 ABOUT Sasol is a global energy and chemicals company based in South Africa. It was founded in 1950 and was originally named the South African Coal, Oil and Gas Corporation. The company is primarily focused on the production of synthetic fuels, chemicals, and gas. Sasol is one of the world's leading producers of synthetic fuels. Sasol operates in more than 30 countries around the world and employs approximately 30,000 people. The company is listed on the Johannesburg Stock Exchange and the New York Stock Exchange. Sasol is one of the largest producers of low-emission transportation fuels in the world, including synthetic diesel, jet fuel, and naphtha. In addition to its energy and chemicals operations, Sasol is involved in a number of other businesses, including mining, power generation, and technology.
JSE:SOLShort
by Timonrosso