Weekly game plan 16 February 2020 - KIOLots happening here... overall setup is bearish (see related ideas), although we could see a bounce off the trend line here. Is that the bounce that gives us the short entry on the weekly, or does it invalidate our short setup? Not sure. No call here, just an observation.
KIO trade ideas
Weekly game plan 2 February 2020 - KIOIt's a bit of a complex story, 'ol Kumba... but our thinking is that we want to watch the way the stock behaves around this longer-term support level / trend line. We think that there could be a nice weekly time-frame trade setting up here. For now though, we are just watching.
Kumba Iron Ore Equities Local | Kumba Iron Ore | The inverse head and shoulder technical formation previously flagged at 385 has played out with the share reaching a recent high of 43428c. At current levels we have a moderate probability of a reversal with Friday's candle having printed a 'bearish engulfing' at the 200-day. Additionally, the RSI is starting to roll over while the medium term upward channel is at risk. Fresh longs should wait for a pullback to 380-385. Alternatively, a pop toward the 338/343 level is a fresh opportunity to potentially make a short term short sale.
JSEKIO - KUMBA Short setup- Price is at a major resistance level
- Bear flag has developed
- Closed wih an indecision candle (spinning top)
- For a less risky entry, wait for the close below the flag on the daily
- R:R is 1>2
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:KIO
KIO - Amazing Trade (Update)We may derive the following from the Daily KIO chart:
1. Price reached our first target and caught a bid. See linked trade.
2. Price should in all probability consolidate for a while.
3. Monitor price action and look out for further short opportunities.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
KIO - Danger Ahead!We may derive the following from the Daily KIO chart:
1. Price is approaching its daily uptrend.
2. The past few daily candles have been extremely bearish.
3. Price i.m.o should break the uptrend and continue to decline.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
Kumba seeking supportA two day reversal on the Iron ore price and a strengthening Rand has seen some weakness creep into the share price of Kumba. We can see that the RSI has turned lower after yesterday's price action SO I don't think the price will stay in over-bought territory much longer. I won't be surprised to see Kumba trade lower from here to test that "psychological" R400.00 level as support.