ABG trade ideas
ABSANice break on ABSA, may target 190 next.
*We are still in volatile times, apply a strict stop loss regime
Can buyers hold supportAbsa is looking like a good buy if it can hold the R155 support. Backed by the 200 day EMA some psychological buying could be coming in, adding wind at the back. But a tight stop is required below yesterday's low
ABG on 200dmaABG on its 200dma and support. R156 needs to hold for a bounce.
Trade ideas are my own and not financial advice.
ABSAAbsa has bounced off this support level before; will it this time?
Its the level that's coinciding with the 200dma, so it must hold for the uptrend to remain intact.
AG Capital -Storm trading Morning Call 26 April 2022We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
ABG: first pullback then another leg down?A bearish trend is applicable below 10900. Crossing above this level will negate the bearish stance.
Downside price potential supports the bearish trend.
RSI leaves enough room for further downside price potential.
Trend strength indicates a strong trend gaining strength.
ABSA - Bearish EngulfingA Bearish Engulfing candle pattern has formed on ABG with yesterday's price move. We can consider a short position if the price continues downwards from here.
Absa: Short Target Reached (16950c)Full gain around 1300c or 7.3% (Period: 1 week)
Absa: Short Target Reached (16950c)
Original idea attached.
ABG Daily Close above 15900 resistanceManaged a daily close above 15900 for the first time since End-November 2019.
Bumped into the 15900 area in second half of 2021 but failed to have a daily close above this level.
Looking at two targets.
Target range 1: 17000 - 17500
Target range 2: 18200 - 18700
Mr Market shows his memory againSome of these buyers are have been sitting with a loss in this stock for 3 years are happy to cut loss at break even.
Question is, are they enough to stop the new bulls on a rising interest rate environment?
I doubt it
Trade Idea: Sell Absa Group (ABG)Price at the time of documenting this idea: 18270c
Price testing multi-month rising trend line. Downside reward to risk appears attractive at current levels.
7-day RSI at 87
14-day RSI at 78
Preferred Entry (Sell): 18260-18340
Stop: 18810c
Target: 16950c
@VIllageTraderZA Potential Ascending triangleThere's a potential ascending triangle pattern forming. Backed by rates the long term pitcure looks positive
@VIllageTraderZA Absa on the go if you can hide your stop wellAbsa is on the on the go. Its been making higher highs and higher lows. However the uptrend chanell range is quite wide. Its a good longer term hold if you can hide you stop well
AG Capital -Storm trading Morning Call 17 December 2021We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
Possible Long idea on ABGPrice has made a bull flag setup here bouncing on the 200WEMA and 13500 SR level. ST limit is 15700. Stock is also oversold. Always manage your risk.
Big 4 SA Banks - 1W Channel Breaks I would have thought that bearishness in the SA banking sector is a thing of the past, with earnings showing bank balance sheets & prospects to be more robust than feared in the Covid sell-off. However their consistent grind higher since call it Jun/Jul last year looks to have stalled, with the Big 4:
- Showing channel breaks on their 1W charts,
- All trading in the no mans land between 15 EMA & 200 DMA,
- Negative momentum (RSI,MACD)
- Strong $ / weakening ZAR not positive for their outlook
Never thought I'd say it so soon into the recovery but, in a short term time frame, time to short SA banks? Or, if you have time to sit it out and an appetite for drawdowns, a good buying opportunity here?
Not shown is 1W the Capitec chart - with a few spinning tops that one could go also either way IMHO
JSE:FSR JSE:SBK JSE:NED JSE:ABG JSE:CPI
Absa - Support At RiskMassive pullback since I highlighted the medium term supply via the monthly chart (31-Aug post attached at 15796c). Peaked the following day. Traded into the declining 8-day EMA providing an intraday short/sell but looks like there's a bigger move at play here.
A break below 13800c-13950c could see the algo's going along for a short.
ABG - 1D - SWING TRADEABSA on the bottom of un upward trend. Starting to consolidate at the top, however stochastics show oversold positions. There might be a double bottom in play, but will put in a tight stop loss as a double top might also be in play on this one.
This will take a whileNice Ascending triangle pattern on Absa. It will take quite some time to build up. One that requires patience
ABSA downward move potentiallyJSE:ABG formed a bearish harami on the 4th of October which is a top reversal signal. This week, the momentum has been confirmed by the crossing downwards of the stochastic. The MACD and the EMAs look like they are on the verge of crossing down too which will be a further confirmation of the downward move.
ABSA - Bearish Engulfing off of Ascending ResistanceJSE:ABG formed a bearish engulfing candlestick pattern on 1 September which is a top reversal signal. What makes the signal stronger is the fact that it it coincides with the resistance level from the current longer term up-trend.
The MACD, Stochastic and now the EMA's are also showing signs of downward momentum. I think we could possibly be looking at a move down towards the 13500 area before turning back up again.
