Southafrica
Gap to fill on ALSIIf the price breaches into the gap caused by this morning's opening, we could possibly see an upward move to close the gap. The international markets are all down this morning, so I would be cautious about entering a long, but it could potentially be a nice little upward move if confirmed.
H&S Target reached and failed to confirm a break of support.JSE:MCG formed a Head & Shoulders pattern between March and December 2019, which played out nicely and reached it's target which perfectly coincided with the lowest low of 9031 from 6 March 2019. With yesterday's movement, it broke slightly lower, but retraced and failed to confirm with the close of the candle. Failing to confirm below this low could mean a possible upward move. I will wait for confirmation before entering a long position.
Discovery failed to break support levelJSE:DSY has failed to make lower lows on a support level formed in August last year. The Stochastic is confirming a possible change of trend as well, so I will consider entering a long position if confirmed with today's movement.
Bullish Engulfing pattern on ABGWith yesterday's movement JSE:ABG formed a massive engulfing candle. The stochastic has confirmed this with a move upwards through the 20 line. I will consider entering a long position if confirmed for a move up to the resistance level at the previous high.
SGL ChannelJSE:SGL is trading in quite a strong upward parallel channel. If it fails to break through the bottom, we can expect that it will head upwards towards the top of the channel.
Possible ReversalJSE:GRT is trading at a previous support level from all the way back in December 2015.
If it fails to break through this level, we could possibly see a retracement or a reversal.
I will keep an eye on this one for a possible long opportunity.
a look on Investec PSG and Coronationthis video entails some of the large Assert Management Companies here in South Africa every week we are going to look at a specific sector on the JSE and try and break it down to find investment opportunities
im not a professional speaker but ill try to improve quality and analysis as time goes on
BHP GROUP (BHP) BUYIf prices break above the previous 34 156 resistance, this should be a good opportunity to buy into this market. The price is above the 100-day exponential moving average on the weekly chart and also seems to be bouncing off the 400-day EMA on the daily chart, as this seems to present a support zone. Our good old trendline shows the price making a series of higher highs and higher lows, however, the slope of the trendline is not that steep, meaning this stock will be a slow mover, if it moves to the upside at all.
Buy: When the price breaks above the 34 156 level. '
This trade will be invalidate if prices break well below the trendline or the 400-day exponential moving average on the daily chart. Proper risk management should be exercised.
ANHEUSER BUSCH INBEV (ANB) SHORTAnheuser Busch InBev is literally printing short as it ticks. Prices just broke out of a bear flag pattern and now is about to do the same thing again. If it works, why change it right? This one will be selling like hot cakes, or rather like Telkom (pun intended).
Sell: At the break of the bear flag pattern.
Target is the bottom of the pattern according to the 90% rule at the 1281.60 price level
ADCOCK INGRAM HOLDINGS (AIP) SHORTThough it possible that we might see the prices move up towards the descending trendline, it is also probable that once prices break the 5 200 pyschological level, more sellers will enter this market. Prices are below the 200 exponential moving average on all major timeframes, signaling a bearish bias. The market could likely open with a gap down considering that they closed at such a price (5 200).
Sell: When the price breaks below the 5 200 psychological level, or when the price rejects the descending trendline.
This trade will be null and void if the price breaks above the descending trendline and continues to make a series of higher highs and higher lows.
ABSA BANK LIMITED (ABSP) SHORTABSA Bank Limited (ABSP)The walls are bloody for ABSA, which clearly shows momentum to the downside on the monthly timeframe (check out my full analysis on my instagram account @heisenberg_trader), as prices are trickling down, with momentary pauses in the form of bear flag patterns. The long term trend is clearly downwards, as prices have been forming a series of lower highs and lower lows.
Sell: When prices break below the 72 000 psychological level.
This trade will be nullified if prices drift closer to the 78 000 psychological level
Symmetrical Triangle on SBKJSE:SBK has formed a symmetrical triangle pattern and we can anticipate a strong move once it breaks out. For now, it's a neutral signal, but the move will depend on which direction the breakout occurs.
ABG - Possible bounce off supportJSE:ABG is trading at quite a strong support level. If it fails to break lower, we could be in for an upward move. I will wait for confirmation of the bounce before entering long.
Possible reversal on NPNJSE:NPN is trading at quite a strong resistance level at the moment. If it fails to break higher, the chances are good for a downward move. The stochastic seems to be confirming the trend reversal.
As always, I will wait for confirmation before entering.
H&S and Resistance BreakoutJSE:AGL has broken through a strong resistance level and is making higher highs. At the same time, an inverted head and shoulders chart pattern was formed. It is looking good for a long move.
BIDVEST - Trend ChangeAfter a very successful short position, JSE:BVT has broken through a descending resistance level/trend line and could possibly be changing direction, which is being confirmed by the stochastic as well. If it confirms after today's price action, I will consider entering a long position.
