But lets see if the volume still drop
Nedbank has taken some time but is finally on the move to R200. Financials are making a final push and Nedbank is one of the stronger banking stocks. Look for a final push into support likely to become resistance.
Last week the JSE Financials were on the move but before jumping on the train a word of caution. If one looks back to 2015 we see a long distribution range that formed with investors getting out of South African financial stocks. The recent rise on the back of the covid drop is likely to only be a backup to this distribution range and not longer-term interest in...
We were looking at a markup in Anglo American - see post below - but with declining interest in the stock, divergence on the volume RSI and break of the 50 Day SMA I think this stock is ready for a pullback probably to R400.
Tsogo Sun showed a major sign of strength (MSoS) in June 2020. We are now breaking the highs of that push with a significant bar on some volume. This opens some upside potential with the next major resistance level at around R20. Using the significant bar and yearly pivot point as stop loss (SL) gives a great risk-reward trade.
Watching ABSA's recovery from the covid lows - see posts blow from December - back to a previous resistance level around R150 we are now seeing the last push into this level. I will be watching for a buying climax (BC) on volume to get out.
Trend: Bullish Retail Sentiment: 81% Short LP Sentiment: 30% Long Moving into Wednesday my sentiment still has not changed. Bullish on EUR until I am bearish 😒 For all my followers I wanted to provide content that can enable you to become a better trader. My Areas of interest are defined by looking for volume imbalances in the market 👨🏾💻 I will be focused on...
Check out my previous idea, where I called out an excellent short opportunity. I entered at around 2000, and have since closed the trade at 2650 It is hard to predict where we will go from here, but my gut tells me we will test major support at around 1300, so that is where my buy order sits. From there, I think we will bounce to test 1850 again, and that is...
Today there was a significant bar in Curro Holdings with volume. A spring-like action from the yearly pivot point also forms a backup to the breakout of the accumulation trading range. Now we are expecting a quick markup to around R16. This confirms the previous evaluation provided in the post below.
After a significant pullback in gold stocks, there are some good signs of strength with Gold Fields one of the strongest and above its yearly pivot point. On the pullback, buyers stepped in below R150 of GFI. Price has pushed out of the trading range formed after the pullback with some significant bars. Other gold stocks are showing similar signs. With these...
Stadio Holdings has been on a downward trend but with the Covid drop, something changed. The trading range indicated lots of buying with no spring and only higher highs at the last points of supply (LPS). The backup (BU) to the trading range was also very shallow. Now the price is already in the markup phase. However, there is still strength in the chart with an...
After starting to follow Distell early in December 2020 the stock has made good progress from R100 - see posts below following the progress. However, last week there was a high volume spike above R140 pushing it back below this level. This could indicate a time for the stock to form a trading range with some profit-taking holding price back. We will have to watch...
This month, I looked at Richemont as an investment stock to follow during the mark-up on a weekly chart - see post below. At the time I felt a pullback to R120 was possible but looking at price action last week it looks like the stock could already be ready to mark up further. In the smaller trading range on the daily timeframe, we have seen a spike in buying with...
It has taken some patience but Blue Label seems to be ready for the next push higher. Seeing the buying in November 2020 - see posts showing progression below - we expected a substantial increase. After reaching an area of historic resistance and pullback to R4 we are now again ready to push higher.
After the covid low, Curro Holdings has had a good recovery. The in the trading range formed after the selling climax (SC) and automatic rally (AR) price has been making last points of supply (LPS). After the breakout of the trading range we can expect a markup to around R16.
This has a bit more to go to take out resistance at the top. It should break the top in the next few days if BTC can hold above 55800. The volume is picking up and institutional money is coming in (see the red at the bottom mcdx indicator). Get your alarms ready or set a buy order for the next 5% retracement, it may be the last one before the run up.
Invicta has had a reaccumulation and after breaking R19 backed up to the trading range. We are now looking for a break of R22 for the next push higher. See posts below for the analysis following the trend up.
ADVTECH has been on the move since the beginning of 2021. After a long decline, it hit bottom at R6 in March 2020. After that, it has made higher highs with some volume when it broke R10. It is now pushing to test R15. We could see a backup of the breakout level at R10 before moving higher but holds opportunities on the way up.