ZAR
EURZAR (High probability short)Experimental probability of price breaking 9/11/20 low (~18.0870) is 90%
Entries: Discount sell zones highlighted on Chart
Note: discount zone are invalid if price broke the low
Cup & Handle on MTNA Cup and Handle pattern has formed on JSE:MTN .
The Cup with Handle is a bullish continuation pattern and as its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance.
I will look to enter long if it breaks above the high of 11 Nov with a optimistic target at the resistance around the 8800 level.
Bearish engulfing candle at resistance.After a few doji candles, JSE:MTN has developed a bearish engulfing candle at a resistance level. This is the sign of a possible reversal. I will keep an eye on this and if it breaks lower, I will consider a short position taking it all the way to either the 200SMA or the support level at around 5500.
SOL - Break above resistance could mean upward moveA small inverted head & shoulders pattern has formed on JSE:SOL in the recent past, but it is yet to make any significant upward move because of it. It came up and tested a strong resistance level on the 10th of Nov and then retraced back down. If it comes up again and breaks through that resistance line convincingly, I will consider entering a long position.
USD:ZAR Wait for a reversal?USD/ZAR Analysis Based on price Action.
With Risk Management you will Never loss.
thank you
Possible short on CAPITECJSE:CPI is showing signs that it may retrace downwards for a bit before continuing up. The MACD and Stochastic are both showing downward momentum and if it trades lower than today, the EMA's will confirm a downward cross. Keep an eye on this one for a possible short move to around the 200 SMA support level.
Clicks downward momentumJSE:CLS has reached a level of resistance and is showing some downward momentum. The stochastic and MACD has both crossed downwards and the 2 EMA's have confirmed this momentum. I will look to go short if it trades lower.
OMU Bouncing of 200SMA with downward momentumJSE:OMU has found some resistance at the 200 Moving Average and could be heading for a downward move. The stochastic and the MACD are both starting to confirm this downward momentum.
AGL - Double TopA double top has formed on JSE:AGL . I'll keep an eye on this for one for a break below 43000. If it confirms, we could be looking at a downward move for a short position.
CFR - Struggling at ResistanceJSE: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.
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.
SHP - Heading for gap closeApart 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.
BID bounce off of resistanceJSE: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.
Massive H&S Pattern on ANGJSE: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.
REMGRO - possible upward move to fill gap if it breaks outJSE: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.
MTN Bouncing off supportJSE: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.
Falling wedge breakout on GoldfieldsJSE: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.
Possible down coming for Multichoice GroupJSE: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.
Discovery H&SA 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.
DSY upward after H&S patternJSE: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.
