There are some other supports below - POC at 110.80 and fibo 161.8 right below POC. Profit target at 61.8 % of current down-swing.
After a strong markup out of the accumulation trading range, there have been two steppingstone re-accumulations. The markup has broken the initial increasing trend channel and has now formed a steeper channel. Last week though we saw a climatic bar on volume and a strong reaction of the highs. There is divergence with the volume RSI. This indicates that a trading...
Impala has been weaker than the other sector stocks (Platinum & Precious Metals Index (J153)), for some time (see Comparative Relative Strength). However, recently the stock has shown strength and is the strongest stock in the sector. After a Selling Climax (SC) and Automatic Rally (AR) in 2016 there has been significant selling pressure (OBV) but price has not...
Sasol has formed a smaller Trading Range (TR). There has been a steady decline in volume indicating absorption. Divergence on the Volume RSI points towards accumulation. Price is approaching the Yearly Pivot Point and 200MA. If it jumps across this resistance we can see a markup but if it finds resistance we this could indicate distribution.
Expecting the stock to rise with SL of 700 target of 800
PFG had a high volume reaction to the long term oversold trend line last week which is continuing this week with a bullish reaction. This indicates that demand has increased and the lower TF trading range that has developed is possibly and accumulation range. However, the TR is potentially not complete. On the daily this reaction on high volume is possibly only a...
Astral Foods has been in a downtrend since July 2018. It has reached the supply line with some volume and seems to be continuing the downtrend.
Growthpoint has been in a trading range since 2013. After a good uptrend, there was a throw over of the upward stride and a climax formed. The volatility to the downside has increased and Signs of Weakness (SoW) can be seen. Now after an Upthrust after Distribution (UTAD) and a test we have now seen a Last Point of Supply (LPSY). Looking for a high volatility...
Investec has formed a Trading Range (TR) after Preliminary Support (PS), Selling Climax (SC), Automatic Rally (AR) and Secondary Test (ST). There has been low absorption volume in Phase B and we have now seen a spring and test in Phase C. After the test is done we can expect a markup in the TR in Phase D to the top of the TR.
After a Selling Climax (SC), Automatic Rally (AR) and Secondary Test (ST) in Phase A we have now seen the bottom of the range being tested a second time. This looks a lot like a potential spring in Phase C but we have not seen a good contraction in volume in Phase B so this still could just be a test of the TR. However, the result should be the same with a test of...
Absa Bank is looking strong even as the Rand and the JSE are looking weaker. Absa's pears in the Banking Sector are also looking weaker. Absa's relative strength to the Banking Sector is improving. There are a number of indications that Absa is going to buck the trend. The location in the accumulation structure is at a good place to go long. We have seen an...
BTCUSD, short to 3802 after accumulation in chanel 3902 - 4000. Levels by x-lines indicator. Volume analysis by x-volume.
ICX has seen a huge increase in buying volume over the last months. This volume looks like the biggest we have seen thusfar. This is the reason why we are opening a long position. The big volume does in our opinion not correspond with yesterday's spike and we will probably see a small correction before the next wave up. Please be advised that this is not financial...
Bidvest has broken the ascending stride and retested it. There is negative divergence indicating a continuation of the new downward trend. The smaller trading range (TR) on the daily also indicates that this is distribution and we can expect a test to the recent lows and possibly the demand line of the descending stride.
Sanlam has formed a trading range (TR) with a selling climax (SC), automatic rally (AR) and secondary test (ST) of the SC. After this, the stock has moved into Phase B and upthrust (UT) testing the top of the TR. With contracting volume, a drop to test the SC in phase B can be expected. This could see a decline to test R70 or R65 before continuing the TR.
Ready to long after a nice correction as shown in M30....Objectives for today #1 1.1400, and #2 wait to 1.142500
Simple Crypto Strategy: Find Accumulation...Buy the All Time Low...Sell the Top.
The resources sector has been strong but Kumba has been a laggard in the sector. The Trading Range (TR) that was formed seems to have the characteristics of distribution with increased volatility. The volatility to the downside is seen by increased spreads, gaps and increase volume. Pullbacks have been on lower volume. After the recent pullback, Kumba is ready to...