ABG supportABG pulling back after a good run. Look for a reversal around the uptrend support line. Possible targets R140 and then R150.
Ideas are my own and not financial advice.
ABG trade ideas
ABG symmetrical triangleABG triggered a symmetrical triangle pattern. First target R135 and then R145.
Ideas are my own and not financial advice.
JSE:ABG ABSA Looking for Buying ClimaxWatching 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.
ABG - Target Range Entered. Take 70% ProfitABG - Target Range Entered (13440c-13680). Take 70% profit and reduce further as we push higher.
Absa GroupSeems the market is quickly forgetting about the CEO debacle.
The underlying time frames have been getting stronger. Also, we note a descending technical formation have developed over the last 3 months.
Potential price path on chart.
Exact levels in next week's research report.
ABG - WedgeThe wedge is still in the making, we await for a break of either trend-line for direction
ABG - Wedge formationWedge forming with a break of swing highs at R135 triggering the long idea. Full target is R168. One to keep an eye on for the long term.
ABG in a 2 month symm Triangle, waiting for breakgetting close to the apex of this pattern which will lead to a breakout either way.
Higher lows and higher highs on AbsaThe stock looked good despite the sell off after some relatively underwhelming results last week. The stock is currently testing the 12200c support for the second time after breaking into the 12200c - 14800c box. I’m after for a close above 13450c because that would invalidate the double top formatting. I’m also waiting for the 30w EMA to cross the 60w EMA, and pretty close. If the stock closes above the 13450c and hold the 12200 support that would mean another higher low
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Absa moves to the R122 - R148Position
No position in the market
Absa moves to the R122 - R148 from the R96 - R122. However, the 30w is still below the 60w EMA.. Waiting for those to cross first. Before I can take any trades.
ABSA showing some downward momentumJSE:ABG is showing some downward momentum based off of the stochastic and MACD turning downwards and now the 3 and 15 EMA's crossing downwards. I am looking at a short position to at least the 11250 support level.
JSE:ABG ABSA Markup The signs of strength (SoS) shown in December - see posts below - has taken some time but is now playing out. We are now looking for the markup back to previous support that should be resistance. The backup attempt after the breakout was shallow and shows strength. This week should see some action in financial stocks.
ABG a little messy, but seems strongSome context-less candles making it hard to see a clear picture, although the stock seems strong with a marco-thematic backwind... we likely see it trade to resistance.
