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ZAR

ZAR

CFR - Struggling at Resistance JSE:CFR seems to be struggling at a resistance level that it has traded at in August 2018 and November 2017. If it doesn't break through this level and creates lower lows, we can possibly be looking at a short position with a target at the gap from 5 November.

Short

VODACOM - Break below support could mean a short move.A large Head & Shoulders has formed on JSE:VOD at quite a significant support level. If it breaks through the neckline which falls on the support level, we could see a move downwards towards the lows from mid-March.

Short

SHP - Heading for gap close Apart from the double top that has formed, a massive bearish engulfing candle appeared yesterday with very strong downward momentum. If it continues down lower than the low of yesterday's engulfing, I will consider a short position with a target at the close of the gap from the 8th of September.

Short

BID bounce off of resistance JSE:BID has had some good bullish momentum for the month of November so far, but when it reached the significant resistance level around 28100 it failed to break higher and is showing signs of a turnaround for a downward move. If it breaks through the 200 SMA and confirms by a break below the lows of 10 Nov, I will consider entering a short position.

Short

Massive H&S Pattern on ANG JSE:ANG has formed a massive Head and Shoulders chart pattern starting all the way back in April 2020. The right shoulder is not very big in relation to the left shoulder, and the uptrend leading up to the formation wasn't extremely significant, so I wouldn't be surprised if it doesn't make it all the way to it's target but I think we could definitely see a downward move to the previous significant support level at around 30000 if it breaks through the neckline and confirms the pattern. If it breaks through the support level at 30000, we could possibly see a move down to the target, but I feel that is quite unlikely.

Short

REMGRO - possible upward move to fill gap if it breaks out JSE:REM has been trading in a consolidation since July. It is currently around the top of the consolidation area and is showing some signs of upward momentum. If it breaks out through the top, we could see a bit of an upward move - possibly even going up high enough to fill the gap from the 3rd of June. I am waiting for a confirmation of an upward breakout before considering entering.

Long

MTN Bouncing off support JSE:MTN is looking good for a long position if it breaks higher than yesterday's price action. The stochastic as well as the MACD are both showing buy signals. I'm going to wait for confirmation above yesterday's levels before entering long.

Long

Updated

Falling wedge breakout on Goldfields JSE:GFI has formed a falling wedge pattern and has broken out of the top 3 days ago. If it continues up, I will consider a long.

Long

Possible down coming for Multichoice Group JSE:MCG has been on a great bull run since mid-September but it looks like it might be turning down soon. It is currently consolidating at a previous resistance level. If it breaks lower out of the triangle pattern it is currently in, I will consider short.

Short

Discovery H&S A Head and Shoulders pattern has formed on JSE:DSY and we could be seeing a nice downward move all the way to the support level at the 10200 if level if it confirms a break through the neckline of the pattern.

Short

Updated

DSY upward after H&S pattern JSE:DSY seems to be on its way up after the down move of the Head & Shoulders pattern. It didnt quite reach the target, but instead found resistance on the 200 moving average. If it continues through the neckline upwards and uses it as support, I will go long.

Long

BHP upward move The Head & Shoulders that was alerted a few weeks ago played out quite nicely, but didn't quite reach it's target. At it's bottom, it formed a bullish engulfing candle pattern which is an upward move signal. The stochastic and MACD are confirming an up, so if it breaks today's high, I will enter long.

BLong

BHP - Head & Shoulders JSE:BHP has formed a Head and Shoulders pattern and has broken through the neckline on its way downwards. If the pattern plays out, we could see a move down to the target at around the 28900 level

BShort

Updated

QUILTER possibly on the rise JSE:QLT is showing signs of an upward move. There was a massive engulfing candle a few days ago and the stochastic and MACD are confirming upward momentum. If it break higher and the EMA's cross, I will consider a long position.

Long

USDZAR Opportunity - Bullish Divergence Quick Reversal Expected USDZAR Opportunity - Bullish Divergence Quick Reversal Expected post 1 more low for short period of time -

Long

by UnknownUnicorn6253288

Updated

SANLAM on the way up JSE:SLM seems to be heading up from the lows it reached at the end of October. The stochastic, MACD and exponential moving averages are all confirming this move on our trend-following momentum strategy.

Long

MNP - Heading back into channel I recently posted an idea for a short on JSE:MNP and it went in our favour for a few days, but didn't last long. In the meantime, it has formed a bullish engulfing candle and has retraced all the way to the bottom of the channel again. It may find some resistance before entering the channel again but if it breaks through, we could see an upward move towards the top of the channel.

Long

Kumba - Double Bottom JSE:KIO has formed a double bottom with the last couple of days' movement. A doji formed on the 29th of October followed by a hammer candle which can be both seen as reversal signs. The double bottom, candle patterns, MACD and stochastic are all pointing upwards, so I will consider a long position if it trades higher.

Long

NPN - Triangle breakout within parallel channel JSE:NPN has broken out of the bottom of a triangle pattern, moving in a downward direction. Along with this, it has been trading within a parallel channel since mid-July and it has bounced off the top of the channel which could serve as confirmation for a short position. If it continues with this downward momentum, I will enter short with a target at the bottom of the channel.

Short

Updated

MNP - out of upward trend JSE:MNP has broken out through the bottom of an upward channel that it has been trading in since the end of April. My expectation in a previous idea is that it would bounce off the bottom of the channel and return upwards, but it has, in fact, broken through and is on its way down. It is currently on a support level and if it breaks through, I will consider a short position.

Short

Updated

RNI - Large Bullish Engulfing Candle I alerted a short possibility on JSE:RNI on the 21st of October with this idea - , and although it went in that direction for a couple of days, a doji formed followed by a strong bullish engulfing candle which could possibly be signaling a long position. If it breaks higher than today's price action so far, I will consider entering long.

Long

REINET with some strong downward momentum JSE:RNI has been showing some strong bearish momentum the past couple of days and if it breaks through the support level that it is currently pushing through, I will consider a short position towards the lows of the initial COVID-19 lockdown around mid March.

Short

Updated

ASPEN - strong upward move JSE:APN is showing great signs of a potential upswing. The stochastic, MACD and Exponential Moving Averages are all confirming this move.

Long

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