Bidvest at an area of valueJSE:BVT is at an area of value, the last time it reached a resistance area it managed to break above it. Hoping for a breakout.
Trendtraderjse
Tsogo Sun Pending a Breakout?JSE:TSG is flirting with the resistance level. A breakout will be appreciated.
Astral reach 52 week highJSE:ARL has reached a 52 week high, with a decent amount of volume. Markets are up down but this is a bullish setup. Every setup must be accompanied by a stop loss.
Santova new ATHJSE:SNV recorded a new all time high, with above average volume. A promising bullish setup.
BTI at an area of valueJSE:BTI setting for a long opportunity, note resistance on a higher time frame.
NYSE:BTI has been playing around this level for a while now, close above R714 trigger a long position. However, a clear bullish setup is above R730, where it'll have cleared the R720-ish resistance level that's on the weekly time frame.
R714 is like a low cheat entry, in anticipation to a breakout above R730. It can fail, manage risk accordingly.
Northam break or bounceJSE:NPH is at an area of value; the stock may either find support here or break lower. NYMEX:PL1! is weak, the chance of breaking lower is higher than that of a bounce. No position on platinum names at the moment.
Datatec at an area of valueJSE:DTC reached a 52-week high today, it also broke above a resistance level. If you zoom into the monthly time frame you'll see that it's near a potential resistance as well, old resistance level. I'm bullish on JSE:DTC on D/W time frames, the resistance level could be an issue but it's an old level.
Stefanutti long ideaJSE:SSK is staging a breakout, note low volume. Depending on your broker, it may be a slightly illiquid stock and have a massive spread. Potential resistance level in near R1.60, from 80 cents, that's a potential to double your investments. Think risk first.
Vertex PharmaNASDAQ:VRTX is on a verge of a breakout. AMEX:XPH is also staging a recovery, but still trading below key levels. For now, the focus in on a NASDAQ:VRTX look position.
Shoprie is losing groundJSE:SHP share price is under pressure, and it has broken below a support level. JSE:SHP has been trading below key MAs for a while now, it's no surprise that the down ward move is gaining traction. It's not wise to keep on buying the stock at the moment, let it fall without you, unless you'e short. JSE:PPH is another weak retail stock.
UTZ All time highNYSE:UTZ
That's a truck load of bases; I like to buy my stocks on the 1st up to the 3rd base, anything above the 3rd base I consider it as more risky.
But I can't ignore the fact that the 50EMA is holding the price very well.
A buy at current levels with a stop at $24 can still offer a reasonable risk:reward.
