NHM - Showing some upward momentumJSE:NHM formed a doji candle at a support level two days ago and is looking like it is heading upwards with some momentum. If it continues upwards, I will consider a long position with a potential target just above the 19000 level.
ZAR
Double Top on ImpalaAfter a successful long position, JSE:IMP has bounced off resistance to form a double top. I think we can look forward to a downward move down to the support level around the 14200 level.
Short on AMSJSE:AMS is showing strong downward signals and we could be looking at a move down to the support area at around 110000. The stochastic, MACD, and the two EMAs are all confirming this downward momentum.
ABSA - Bounce or Break?JSE:ABG has been trading in an upward parallel channel since July. It has reached the bottom of the channel with quite strong bearish momentum. If it continues downwards through the bottom of the channel and makes a lower low, I will consider entering short. Conversely, it could bounce off of the bottom of the channel and head upwards as it has done a few times recently. I will consider a long position if it fails to break through the bottom of the channel.
OMU Break of downward trendJSE:OMU was trading in a downward trend but has recently broken through the trend line, come back down to test it as support and seems to be moving upwards again. I will wait for a confirmation above the 1100 level before entering a long position.
USD/ZAR Monthly BuyAfter big breakout, price has pull back / consolidated for 6 months and is now testing moving average. Long @ market with stop at 15.74 and target of 19
Head & Shoulder Pattern for CFRA nice Head & Shoulders pattern has appeared on JSE:CFR and with today's movement, it has broken through the neckline. If it continues to play out and head downwards, we could see a move all the way down to the 9400 level.
Channel on MNPJSE:MNP has been trading in a parallel channel since mid April and it seems to be heading toward the bottom of the channel for a possible bounce upward. If it fails to break through the bottom of the channel and bounces off support, I will consider entering a long position on the move up to the bottom of the channel. I will wait for confirmation first before entering.
AGL - Long if we see a triangle breakoutJSE:AGL has formed a flat-top triangle and it is looking like we might see a bullish breakout soon. If it breaks through the top of the triangle, I will consider going long with a target around the previous highs of mid-August.
SBK short if it remains within channelJSE:SBK has been trading in a sideways channel since June. Two days ago, it seemed to be breaking out of the channel in an upward direction, but now it looks like it has found some resistance at the top of the channel. If it fails to break out the top and continues down into the channel, I will consider a short position towards the bottom of the channel.
Descending Triangle breakout on HarmonyJSE:HAR seems to be currently breaking out of a descending triangle pattern. If it breaks through the current support level, I will consider entering short.
NED triangle breakoutJSE:NED has broken convincingly through the top of a triangle pattern and could be on its way up for a nice move. The next significant resistance is around the 16000 level which has been a support/resistance level since 2013.
SLM - strong break through descending trendlineWith Friday's upward move, JSE:SLM has convincingly broken through a descending trendline that it has been obeying for quite some time. If it continues upward, I will consider a long position all the way up to the previous resistance level around the 7000 price range. The stochastic, MACD and EMA's are all confirming this upward momentum.
Waiting for a breakout on RMIJSE:RMI is trading in a neutral triangle pattern for now, but a breakout could be imminent. Depending on the direction of the breakout, we could be in for a nice move. I will keep an eye on this one before making any decisions.
QLT making a turnaroundJSE:QLT has been in a bear trend since mid August and seems like it is making a turn. We could be looking at a move all the way up to the 3350 area if it breaks through the resistance around the 3000 level.
Harmony long on momentumJSE:HAR is looking good for a long position. Stochastic, MACD and the two EMA's are all confirming.
Goldfields to move to top of channelJSE:GFI is trading in a small channel and is looking like it's on its way to the top of the channel for a small upward move.
Clicks going longJSE:CLS is looking good for a long position. We could see a move up to the resistance zone at around 25000. With today's movement so far, I would wait for confirmation before entering.
FSR - symmetrical triangle breakoutJSE:FSR has broken out of a symmetrical triangle pattern and seems to be moving in an upward direction. If it confirms above the highs of early October, I will consider entering long.
KUMBA - upward momentumJSE:KIO is heading upward for a long position. The MACD, Stochastic and EMA's are all showing confirmation for a move to the upside. This coupled with the fact that it has recently made 2 higher lows and fails to break lower, could mean a nice move upwards to the previous resistance level.
