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Southafrica

#TOP40 South Africa 40 finds support@ trendline + Horizontal supNote how the trendline that has formed has had its 3rd successive touch with a reversal candlestick. Each turn off support has created strong upside price action the following day. The level where the top40 found support is even more significant as the 67500 has been a massive change of polarity on many occasions through the second half of 2023. The bulls have their work cut out for them as the failure to hold price above the 200dma was not a positive development. However in the short term, i think we can retest 69300 and maybe 70 000 but ultimately a close and successive days of trading above 70k is needed for bulls to sustain momentum and drive the market higher.
JSE:J200Long
by MarcoOlevano
AVENG Cup and Handle and up it goes to R11.28Cup and Handle has formed on Aveng after a long term downtrend. The price has broken above the brim level and so momentum is leering up. Price = 200MA RSI>50 Target R11.28 ABOUT THE COMPANY Aveng Group is a diversified infrastructure and engineering company based in South Africa. Diversified Operations: ' Aveng Group is involved in various sectors, including construction, engineering, mining, manufacturing, and steel. Establishment: The company has a long history, dating back to its establishment in 1944. International Presence: While based in South Africa, Aveng has expanded its operations internationally, with projects and subsidiaries in other African countries and beyond. Construction Expertise: Aveng is known for its expertise in construction and infrastructure development, undertaking projects such as roads, bridges, and buildings.
JSE:AEGLong
by Timonrosso
Motus Triple Bottom wait for the break!Triple Bottom seems to be forming on Motus. The price has broken above the downtrend, showing the bulls are trying to get into control. Right now there is a consolidation period where we're seeing a higher bottom and the price will need to break above the neckline of the Triple Bottom. Another clear sign of consolidation is the fight between the MAs... Hence this is a waiting game. But once the price breaks above the neckline, the first target will be easily to R146.52.
JSE:MTHLong
by Timonrosso
2
UPDATE: Naspers target to R1,591 on the way - WARNINGWe'll get into what happened to Naspers in a bit, or just scroll down... But I need to mention something, that not many people know. About two years ago, I stopped trading Naspers. It was so rigged and manipulated between many factors and alogrithms. 1. First with TenCent, then with Prosus. Then with prop funds who just make money with the incremental moves throwing in 1s and manipulating the market on only technicals. Well, we sent out a short potential analysis as we expected the price to drop. A Strong M Pattern formed. Broke down. Next few days gapped up and almost reached the stop loss. Today the price dropped over 17%. And now it looks like there's further downside to come. But don't take my word for it because Naspers is probably one of the most difficult markets to probability predict. Let's get into the basics of the fundamentals that took place today: WHAT HAPPENED TO NASPERS AND PROSUS? #1: Naspers and Prosus, the global internet and media companies, experienced a significant plunge in their share prices on Friday due to new Chinese tech regulations impacting Tencent. #2: Beijing unveiled measures aimed at curbing spending in online games, affecting major players in the tech sector, including Tencent. #3: The share prices of Naspers and Prosus fell sharply by 17% and 14%. #4: The decline was triggered by concerns over the potential impact of the regulatory changes on Tencent and other companies operating in the sector.
JSE:NPNShort
by Timonrosso
Glencore ready to smash through its 6 month rectangleW Formation and Rectangle formation has formed since May 2023... Now, we are definitely getting signs of upside, more than downside. That's because the resources sector and precious metals sector is showing positive signs. As we welcome 2024, investors will be using their bonuses and will be reinvesting in the new year which will lead to the January Effect. Also, there is optimism in the air with America cooling off inflation rate and interest rate hikes. Other indicators show upside for now including: 7>21 moving average (SHort term) Price>200 (Bull market) Target 1 will be at R131.00
JSE:GLNLong
by Timonrosso
UPDATE: Sasol hit the target at R184.50 _WAIT!Rising Flag formed on Sasol, the price broke below. And it was all downside from there. We saw the price tank way past our target of R184.52 and then some. Now I'm getting a lot of requests to what we should do. Well personally I'm just waiting. We need to be patient to wait for another consolidation and breakout. Just as every other market. Trading needs patience. And a lot of it to spot the HIGH probability trades. That helps get the excitement and emotions removed from the analyses... The stock market doesn't have emotions, neither should we. Calculated risks and rewards. It's all an auction of probabilities.
JSE:SOL
by Timonrosso
Capital Appreciation depreciating to 80centsIf there is one thing to learn with this analysis it's this. Each and every market moves up, down and sideways - Given. But if you scrutinise at the movements and timing you'll see something deeper. That each market has it's own personality, vibe and structure. FOr example, we know with this penny stock the liquidity is low along with the volatility and volume. And since 2021 it's performed similarly. It moves into a Desending triangle, breaks below, consolidates and repeats the process. SO when you see this market, you just know it's Capital Appreciation... Well right now, if history repeats itself, we can expect another Descending triangle along with downside to come. The next target then will be 80 cents. Let's see how it plays out.
JSE:CTAShort
by Timonrosso
UPDATE: Impala Platinum ready to break out of bear channel?Implats has been on a downtrend for years. Recently it's formed a falling Wedge. But it looks like the support level remains to be very strong for the bulls. The price is back to the top of the channel and now we need a strong breakout. The PLatinum market is looking bullish and if it follows through it will send many companies up. But we need that confirmation and stronger signals of upside to come before we take action. Then first target for Implats will be at R120.00
JSE:IMPLong
by Timonrosso
Anglo Gold Ashanti - The big bad Vuvuzela A Rare broadening Triangle formation has formed on Anglo Gold. This is a triangle that broadens outwards instead of inwards to the apex. I like to call it a Vuvuzela formation. Now right now the bias is sideways as it needs to break out of the range. However, we can say technically it should break down as the prminent and previous trend was down. But we are talking over 20% crash. And as an optimist with gold it's quite a bearish target to set. Let's see who it plays.
JSE:ANG
by Timonrosso
Worship the 200MA with the JSE ALSI 40 - But we will break up!The JSE ALSI 40 once again tested the 200MA. It then retreated back with its tail between its legs. However, the drop has not been aggressive and big. So we can make an assumption that this is a current dip that will cause a rounding bottom. If this is true, it will complete a Cup and Handle formation. And when the price breaks above the brim level we could see 80,000 on the cards. With the Santa Claus rally and positive sentiment with the interest rate hikes being halted in the US and the weakening dollar - It looks like we will continue to see its rally. Happy to be in the markets during this time. But if there is ONE lesson to take in, worship the 200MA to determine the CURRENT trend. Break above 200MA and it's a slay up from there.
JSE:J200Long
by Timonrosso
1
UPDATE City Lodge - Odd Lot Offer and will this be GOOD to buyCity Lodge, has been in this tiresome Symmetrical Triangle since October 2022... However, recently it's broken above which is showing positive signs that there is upside to come.. However, in the most recent SENS update there was a mention about the Odd Lot Offer. So let's break it down and what it means. 1. What's Going On: As of October 16, 2023, there were a bunch of small-scale shareholders in City Lodge, each holding fewer than 100 shares. These investrs are referred to as "Odd-lot Holders," which make up 58.22% of all City Lodge shareholders. However, when you look at the total shares they own, it's just a tiny 0.06% of the market. Now, managing these tiny portions costs a lot, creating a headache for everyone. 2. The solution To solve this issue, at City Lodge's board of directors are suggesting an Odd-lot Offer. This means they want to buy back the small amounts of shares from these Odd-lot Holders, making life simpler for everyone involved. 3. So what do these Odd-lot holders get? If you're one of these Odd-lot Holders, you get a chance to cash at a price that's 5% more than the average value of City Lodge shares over the past 30 days. It's like a special deal, and you won't have to pay any fees to make the transaction. 4. How it works To make this happen, City Lodge needs approval from its shareholders. They discussed it at the Annual General Meeting on November 23, 2023. If the plan gets a green light, Odd-lot Holders can decide to sell their shares at the offered price or keep them. 5. The tax story They considered the Odd-lot Offer isn't a dividend but more like a return of capital. This decision has some tax implications, so they suggest you chat with your tax expert for the details. City Lodge wants to simplify its shareholder list, and if you're an Odd-lot Holder, you have a choice to make – take the deal or keep riding the City Lodge wave.
JSE:CLHLong
by Timonrosso
Tough year for JSE ALSI Positions TradersIt's been a very tough year for swing traders. Go long the market drops. Go short the market rallies. Don't do anything and you save from the burn. But in the bigger scheme of things, it looks like we are in an accumulation phase. The accumulation phase is a period in which smart money (informed and experienced traders or institutional investors) is believed to be accumulating a particular asset while it is still relatively undervalued. This phase occurs before a notable uptrend or bullish move in the market. Key characteristics of the accumulation phase include: Sideways Movement: Prices move within a trading range, often forming a base or a consolidation pattern. The range represents a period of equilibrium between buying and selling forces. You can see the JSE ALSI has been in a tight range this entire year. Decreasing Volume: Volume tends to decline during the accumulation phase, indicating a decrease in overall market activity. Lower volume signals that the asset is not attracting significant attention from the broader market. There have not been huge orders on the JSE ALSI like other years. It could be because there are LESS investors buying shares and more going into derivatives and margin trading. Or because they are worried about the state of the economy with load shedding, foreign direct investments pulling out, the country being rated down or people fleeing the country. Smart Money Accumulation: Informed traders or institutional investors quietly accumulate the asset during this phase. Their accumulation is not typically evident in the overall market activity due to the relatively low volume. Now with December, we could see investors piling into trades from their bonuses, offsetting taxes, preparing for the next year or with optimism with the festive season. Transition to Markup Phase: After a sufficient accumulation, there is an expectation that the asset's price will break out of the trading range. This breakout marks the end of the accumulation phase and the beginning of the markup phase, characterized by a sustained uptrend. So, my hopes and bets are UP. I think once we break out above the range, we could see the JSE ALSI rally a good 10 -20%. But geez, we need strong catalysts to kick in. Even if it's international markets helping us run up with Dual LIsted companies or America's leading influence. WHat are your thoughts? You think we'll get our long waited for rally? Traders and investors who stay in the game will reap the rewards. Patience is a traders virtue. Impatience is the reason why traders quit. They don't FAIL - THEY QUIT. Until then trade well... T
JSE:J200Long
by Timonrosso
UPDATE Redefine just crossed above the Falling FlagFalling Flag formed on Redefine and the price is officially breaking up and out of the range. This is bullish for the company as the JSE ALSI is also showing strong upside to come. We also see the 7=21 and is about to cross. Price>200 - Bullish RSI>50 Target 4.39 ABOUT THE COMPANY Redefine Properties Limited is a South African-based real estate investment trust. History Redefine Properties was founded in 1999 and is headquartered in Sandton, South Africa. It is also listed on the London Stock Exchange (LSE) as a secondary listing. Type of Company: Redefine Properties is a real estate investment trust (REIT). Diversified Portfolio: Redefine has a diverse property portfolio that includes office buildings, retail centers, industrial properties, and other real estate assets. Redefine Properties owns and manages a portfolio of over 500 properties valued at more than ZAR 70 billion as of March 2023. The portfolio includes office buildings, shopping centers, industrial properties, and hotels. The company has a well-diversified customer base, including multinational corporations, small and medium-sized enterprises, and government entities. They own many famous buildings like Alice Lane towers (Sandton) Centurion Mall (Pretoria) Kyalami Corner East Rand Mall, Boksburg, Rose Bank Mall Benmore Gardens etc...
JSE:RDFLong
by Timonrosso
Mr Price ready to break above the W to R209.60W Formation is forming on Mr Price. It's been in a consolidation range since March, which prior that was in a continuous downtrend since April 2022. Now the price has broken above the downtrend, which is currently testing the support. And if it breaks above and through the neckline, we will see upside to come for the retail giant. This also falls in line with the Christmas Rally that normally takes place in December with the buying rush on both consumer and investor side. 7>21 - Bullish RSI>50 Target R209.60
JSE:MRPLong
by Timonrosso
Sun International ready to fly to R47.31Similar to the previous analysis with City Lodge I just did, Hospitality, Hotels and entertainment sectors are showing strong upside to come. Whether it's because of the strong earnings, pause of interest rates, more foreign investments with the weakening dollar - Who knows. But the charts, are showing upside to come. We have the Cup and Handle formation, a small one, but solid nevertherless. The price has broken above the brim level, but it's not convincing enough yet. We need one more stronger push to really get this going. Other upside indicators show . 7>21>200 RSI>50 My first target will be at R47.31
JSE:SUILong
by Timonrosso