Downward momentum on AMSOur 3 momentum indicators have all crossed downwards on JSE:AMS signaling a good time to enter a short position. The target is at the strong support level at around the 160000 level.
Southafrica
Downward momentum on AGLAll three of our momentum indicators have crossed downwards on JSE:AGL . It is looking good for a short position. Target levels around the support area of late September 2021.
Hammer at SupportA hammer candle has formed on JSE:MNP at a strong support level that goes all the way back to 2015/2016. I think it's possible for a bounce off of this level and a nice upward move from here.
Piercing Line Pattern on SANLAMA 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.
Bearish Harami signaling a down move on FSRA Bearish Harami pattern formed on Friday on JSE:FSR . With today's move so far, we have been entered into a short position.
Bearish Engulfing on VODA bearish engulfing candle formed on JSE:VOD on Friday last week. We have entered a short position on this one with today's price action so far.
Bullish Engulfing Candle on WHLA Bullish engulfing candle has formed on JSE:WHL at a strong support level. This is a good bullish reversal signal which is looking good for a long position.
JSE:EOH - Potential complete pullbackJSE:EOH looks to have completed its pullback from its previous move up. Price rejected the 61.8% Fib retracement level and has bounced off the intersection of previous trendlines confluenced with the 50% retracement level. Should this be the start of the next move up, a potential target could be the measured move of the previous leg up bringing a target of 960 - 970. The break of the 770 resistance will add to the momentum pointing higher.
*Disclaimer* Purely an analysis and opinion, this does not constitute financial advice.
XTIUSDthe price will metigate the 1hr poi sell heavily..the price is going to metigate the daily poi at the downside
Old Mutual potential shortMomentum is down on JSE:OMU . If it continues downwards, I will enter a short position. I think we could see it go down towards the 1200 support level.
Double Top on RichemontA double top pattern has formed on JSE:CFR and it looks like it might be continuing downward. If it breaks through the low formed on 20 December 2021, the pattern will be confirmed and I think we could see a move downwards towards the 19000 support level. If it fails to break through the level, we could also see a bounce upwards.
Discovery - Inverted Head & ShouldersAn inverted Head and Shoulders pattern has formed on JSE:DSY if it breaks through the neckline, we could see a ove towards the target and resistance level at around 180000
Goldfields with some downward momentumJSE:GFI is showing some nice downward momentum based off of the stochastic, MACD and the two EMAs all signaling. If it breaks lower, we can potentially see a move down towards at least the 14500 level and if it breaks through that level, we could see it move even further down to the 12000 level.
FSR Potential Short coming soonJSE:FSR broke through a support trend line late November which it has since tested again and it seems to have become a resistance level. If it continues downwards and the MACD crosses downwards as well, I think we could see a short move down towards the 5200 price area. I will wait for confirmation before entering.
BHP to close gap?JSE:BHP has broken out of a sideways consolidation area and I could see it moving up to close the gap formed on 1 September. Target would be around 45200 level.
PEPKOR trendline bounceBased purely on the underlying trend, if it doesn't break through downwards, we could potentially see an upward move on JSE:PPH after bouncing off this trendline.
Triangle Breakout on NaspersAlong with the momentum indicators showing potential of an upward move, with yesterday's price action, JSE:NPN broke out of a triangle pattern that formed over the last while. I think we can see a move towards the 300000 resistance level.
Down move on SASOLJSE:SOL has broken out of a triangle pattern, signaling a short position. If it continues down, I think we could see a move towards the 22500 support region.
Inverted Head & Shoulders on ProsusJSE:PRX has formed an inverted head and shoulders pattern. With a break of the neckline we could see a move to the target at around the 160000 resistance level.
Purple Group Limited heading for previous highsIf you missed the entry on the retracement, its not late jump on the Purple groups rally to previous highs. This move is boosted by the groups, easyequities product success. It is still expected to grow their user numbers/day traders. From trend analysis, price will reach levels which it rejected at first. Long term bullish on this stock, look for it to reach the R2.73 level.
Kumba - Hammer at Support LevelTwo days ago, JSE:KIO formed a hammer candle and this was confirmed by yesterday's price action. A hammer is a bottom reversal signal and I think we could see a move upward towards the 52000 resistance level.
H&S on NedbankA slightly ascended head and shoulders has formed on JSE:NED . If this pattern plays out, we could see a move downwards to the target at around 13000 support area. This coincides with a breakout of the ascending channel that happened on the 9th of November.
