Evening Traders! Today’s Technical Analysis will focus on LTCBTC which is testing a key trade location with multiple technical confluences. Points to consider, - Sellers in control - Key trade location being tested - Local support next viable target - RSI neutral - Stochastics in lower regions - Volume climax nodes LTC breached key technical structural...
Sasol has had a dramatic decline this week. Price has spiked below the downward stride (Oversold line) on the back of the drop in oil prices. Volume has been the highest recorded. This could be a selling climax with a reversal bar indicating the possible start of an automatic rally. The rally should be as volatile as the decline and could close the gap that was...
The drop in resources has been unexpected to me (See posts below). I would expect gold stocks to improve in a risk-off environment. However, this has not happened. The theory seems to be that due to the selloff in other stocks large interest has also been caught on the wrong side of trades and have had margin calls and needed to raise cash quickly. They have done...
The JSE Industrial Index has broken below the lows of the distribution trading range. Some support could be found at 5500 but after a backup to the trading range, the markdown should begin in earnest. The Industrial Index is stronger than the Top 40 index and the decline in this sector is slower than the rest of the stocks.
Following the Wyckoff logic of the markets the distribution trading range (Started in 2015) of the JSE financial index has been broken and the markdown (meltdown) has started. The upward stride has also been broken. The financial index is also performing poorer than the Top40 index. We could have a backup to the trading range with price finding support as previous...
Institutional investors which include foreign investors have bee distributing the JSE stocks since 2015 (see posts below for further analysis). Following a Wyckoff approach to the markets an upsloping distribution range was formed and now the markdown has started. Price has broken the upsloping stride and the lows of the automatic reaction (AR) at the start of the...
Evening Traders! Today’s analysis will be on SPY, a 200 point close on the weekly time frame, saving SPY from having one of the worst weeks in history as it respects the longer term trend line. Technical points to consider, - Price above key technical 200 Week MA - Long term trend line respected - Structural resistance as probable lower high...
With strength in the background, we were looking for the bounce of the yearly pivot point in the previous post (see below). Now there has been another spring to the 200SMA. A good reversal bar with some volume could indicate the markup is now ready to go.
Another one where the distribution has completed. After going overbought when it spiked through the upper trendline a buying climax (BU) was formed in 2018. After that Santam was trading in a distribution trading range. After an upward thrust (UT) price has been unable to break above the 200 SMA and Yearly Pivot Point and formed a last point of supply (LPSY). Now...
There has been a change of character (CoC) with two of the largest delining pushes since the uptrend started. Price has broken the upward stride. Volume is higher during the downward pushes and delines on the rallies. Currently, the Volume RSI is oversold and the price has reached the bottom of the trading range. So we can expect a pause before the markdown begins...
The current reaccumulation in Datatec has taken some time (See posts below) but potentially we are now ready to continue the markup. We have seen a decline in the volume during the reaccumulation indicating the adsorption of the stock. Divergence on the Volume RSI indicates the upward pressure. Now looking for a clear break higher for the markup to continue.
We have had to wait but the backup to the trading range seems complete (See previous posts). After an accumulation range and breakout, we have now had a smaller reaccumulation range with a backup to the larger accumulation range. A spring-like action with volume seems to indicate Clicks is ready for the markup to start. With the volume entering, we are expecting...
Following the distribution of the industrial index (See posts below) on the JSE after last week we are now starting the markdown. Volatility has increased and volume has declined which indicates no buying interest. A test of the bottom of the trading range should now take place and we can then look for the signs of a break below the trading range to start phase E.
This week has seen the largest down bar. Volatility to the downside has been increasing since 2015 and the clear change in character (CoC) last week could indicate a lot more downside to come. We have been following what has been looking like distribution for some time and this move could be the markdown in phase D. After a possible pause at the bottom of the...
Evening Traders! Today’s chart update will be on XRPBTC, which is in a probable double bottom reversal pattern that needs confirmation. Points to consider, - Trend putting in clear lower highs - Double bottom evident (strong support) - Resistant line to break - RSI to break resistance - Stochastics in lower regions - Volume profile in synch - POC in...
Evening traders! Today’s update will be on INO, trading in a descending broadening wedge which serves as a bullish pattern. Points to consider - Trend trading in a lower high projection - Broke 21 week MA (S/R Flip) - Structural weekly resistance - RSI resting on support - Stochastics neutral - Clean volume influx INO is trading in a bear trend putting in...
Hello Traders! Today’s update will be on SPY, a big gap down with immense selling pressure coming in from a technical standpoint. An oversold bounce will be imminent due to overextended oscillators Points to consider, - Key Moving Averages broken - Local support at .50 Fibonacci - RSI oversold - Stochastics in lower regions - Volume Climax nodes SPY...
Hello Traders! Today’s update will be on UBER, confirming a bearish divergence as the whole stock market tanks in response to recent developments on the corona virus. Points to consider, - Failure of higher high - Critical 21 EMA broken - Structural support in confluence with .50 Fibonacci - RSI confirming bearish divergence - Stochastics projected downwards...