Exxaro gap closedA gap that formed on JSE:EXX on 27th of April this year has finally been closed with this morning's price action so far. The tendency is to retrace a bit after a gap close, but there seems to still be quite a lot of upward momentum. We would need to keep an eye on this one to see if any trading opportunities present themselves in the near future.
EXX trade ideas
EXXARO RESOURCES LIMITEDThis is just a short analysis of the potential price zones we could expect with Exxaro Resources Limited JSE:EXX . I think this company has good potential and a solid track record, good luck with everyone's investments I wish you well and a prosperous future!
This is merely an idea and not investing advice, tread carefully and invest on your own risk!!
EXXAROEXXARO Resources has formed a nice weekly head and shoulders pattern and we have seen a break out of the neckline and it seems we are coming to retest the head and shoulders neckline. We anticipate some bullish reaction at that neck line and we expect the share to go up from that of R145 to a target of R184
Exxaro - downward momentumJSE:EXX is showing signs of a possible downward move. The stochastic and MACD both turned downwards last week and with yesterday's downward move, the two EMA's have crossed downwards, signalling a short opportunity. We might see some resistance around the 15000 level, but if it breaks through that, we might be able to set our sights on around 13300 support level.
EXX going shortJSE:EXX is showing signs of a potential short trade coming up. The first signs came with the stochastic and MACD crossing downwards, and it has been confirmed by the downward cross of the 3 and 15 EMA's.
I see it potentially moving down to around the 15000 support level, where it may retrace before potentially continuing downwards. Let's see what happens.
EXX - 1W - FOLLOW UPI Refer my post of 11 Feb 2021. Sentiments are still the same. Would hold if already in, but would not buy at these levels unless you are a momentum chaser. Also close to highs reached in Sep 2020. That being said should that be passed we can possibly look at all time high as next target.
Exxaro looks quite strong at the minute.Exxaro looks quite strong at the minute. Breaking into higher boxes with speed and momentum behind. The stock didn’t stay for too long in the 14000c - 16000c box. After it broke from the 12000-14000 box where it stayed for some time. The stock quickly moved to the 16000c - 18000c box. Now I’m waiting for the break through the 180 resistance to add into my position.
EXX - 1D - THE STORY OF DEMAND AND SUPPLYExxaro is highly overbought on monthly, weekly and daily charts. Rising wedge forming on daily chart is bearish. CEO says they will be making no further investments in coal. 10 ships currently waiting to berth cannot off load due to lack of trains to Ermelo. This means we are importing coal, which is negatively affecting Exxaro. Will not buy at these levels and consider taking profit if already in.
Healthy uptrend channelNice uptrend channel as the stock broke out. On the Head and Shoulders pattern which got me in my initial trade. Seems like the stock has a defined line of least resistance. The stock continuously making higher lows and higher highs. When it breaks through the 16722c and again as it breaks through 17996c. My target for Exxaro remains 21240c for now
3 white soldiers & Inverse H&S pattern ExxaroExxaro
We have a potential head and shoulders pattern building in the share. The past 3 weeks gave us a classic 3 white soldiers pattern. The share broke the R128 resistance/support, if we close 3% above it on the daily chart at R131, we could potentially see the uptrend continue and the head and shoulders pattern play out.
Weekly game plan: villagetrader.co.za