Weekly game plan 29 Nov 2020 - CLSBuilding bullish divergence, but no trigger just yet. Maybe we get a chance to pick up some stock around the blue trend line?
CLS trade ideas
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.
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.
Clicks analysis If you had invested in Clicks right at the beginning of this year, right now you would be around 2% down on your investment. But if you invested yesterday, you would be 12% up. Another positive earnings report from the group driving share price up to almost on par with what we started with this year. Firm support line at R 220 which is something we dont want to go below or even approach for that matter. Clicks my look tamed on a 45 minutes chart but stepping back to a day chart we see a different story. Consistent growth and strong uptrend support line making this a very decent pick for a long term portfolio (if you find a suitable entry point).
Possible chance of a pull back soon if wanting to get in at this point and i think its better to wait for that before buying in right now. But overall looking extremely positive.
Where some companies have seen drastic drops and struggling to recover, Clicks has maintained strong performance and investor value.
Head & Shoulders Pattern ClicksJSE:CLS
A huge H&S pattern, with some wind on the back Weekly chart trending very bullish.
Trading as a continuation pattern
Clicks update on my previous analysis on clicks i identified a beautiful inverse head and shoulders which played out nicely...so what now ?..well i can see another inverse head and shoulders pattern and to confirm it we have to wait for the market to break this current neckline which could see the market rally to the upper end of the channel
clicks greetings i have seen a beautiful confirmed inverse head and shoulder pattern...plan wait for the market to pull back and test the neckline we can use the previous shoulder as stoploss ....you pay less at clicks
Weekly game plan 28 June 2020 - CLSBombs away! Been tracking this one for a while... patience pays off :)
CLS - Strong trend breakJSE:CLS has broken a strong trend line that it has honoured since around October 2018. We could see a downward reversal from this point if confirmed below around the 21600 level.
Weekly game plan 21 June 2020 - CLSStill no trade here, but worth watching. Strong ZAR could see us go long. Failing that, our bias is short.
Weekly game plan 14 June 2020 - CLSNice high probability zone to trade a trade from. Bias is towards the short, yet open to the idea of going long, depending on the ZAR really.
ClicksPrice breaking out of bear flag chart formation in early trade today. Downside target is R190.
Bullish Engulfing & Consolidation breakoutJSE:CLS has been in a consolidation phase since the 4th of May in a sideways move. Today's price action has caused a breakout of this consolidation zone with quite a lot of momentum causing a bullish engulfing candle pattern to form.
If it trades higher tomorrow, it will be looking good for a move to the upside.
Clicks- The Corona shortClicks is expected to release their results by the 23 April and I'm almost certain that their forward guidance is going to look a lot less chipper than what their trading update suggested.
Looking at the chart, I have highlight a resistance zone a lot of "long tails" where highs are getting rejected. This suggests that the top for CLS is firmly in place. I can't see any upside surprises coming out of Clicks this week So we have entered the short at R267.00. My stop loss is just above those failed highs at R276.00. We're targeting a sharp move lower to around R240.00. (But I will probably take it off sooner)
CLICKS - #JSECLS - Double top?- This stock has had a decent run during the current covid crisis
- A bearish engulfing candle and overbought stochastic signals a possible retrace from these levels
NB: this against the prevailing uptrend , stops to be placed above the highs.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:CLS
