$JSEKIO Kumba. Starting to look bearishA break of 347 could open a target range of of 265-244. Wait for a break of 347. Stick to stop losses.
KIO trade ideas
Equities: Local | Kumba Iron OreEquities: Local | Kumba Iron Ore | Short term, we’ve seen the inverse H&S play out with the channel breaking on the downside. Now I am monitoring 357-360 as a rebound zone
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
KIOKumba Iron Ore looks very bullish as it has just hit the Lower Low, look for buy entries with tight SL and target towards the QML where the Sell orders will be waiting
The "DEATH CROSS" ore not? KIOThis chart is published simply to indicate where the 50 day moving average has crossed below the 200 day moving average. This is usually a very bearish signal. Personally, I think any bounce can now be shorted. watch this space robp@unum.co.za
KIO: heading lower?Lower peaks and trough in the price action.
Crossed below its 200-day simple moving average.
MACD bearish crossover.
Downward price momentum
Time to exit: +/- 28 October 2019
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.
One to Watch Kumba Iron OreAwesome weekly candle here into the gap range and retest of previous resistance now turned support
Bullish morning Star
Might get some fireworks this week will update trade idea as weekly unfolds
Looking to Buy
KIO - Long when Support testedKIO is in a downtrend the past weeks.
Strong Support at R365 --- also good Entry point to go LONG
Should also be in Oversold territory at R365.
KIO - Maybe end of great runKIO had a great run - believe the turning point has come.
I see the following support levels as indicated
Major support at R365.00
Long Top5 oversold/overbought according to RSI & $JSEKIOEnd of week 5Apr19. When last did we see #Coronation in top overbought list? FTSE/JSE Allshare Top5 oversold/overbought according to 14day RSI indicator as follow:
Fortress B 22
Omnia 23
MIX Tel 25
Nampak 27
Afrox 28
Alex Forbes 77
Naspers 74
Coronation 73
Kumba 71
African Rainbow Min 69
Spending a bit of time on Kumba. Nice recovery that started in January 2016, which saw the company move from R24 to the R450 recent levels (yep, that is close to 1800% in 3 years). The share however find itself at heavily “overbought” levels now, with a possible pullback that could be aggressive if found on the wrong side.
If I was long in $JSEKIO, I would set my stop-loss at the 0.786 Fibonacci retracement support level at R418. A break through these levels could see the share most probably try and test the 50-day moving average at R376.40.
According to Thomson Reuters consensus forecasts, analysts got a SELL on the company and see possible downside of -34% in the share price (expected one year forward) – Target price of R292.78, which is also more or less at the current 200-day moving average.
KIO showing another bearish setup $JSEKIOKumba has been trading below it's 200 day moving average for the last 4 months and we have noticed most of the shorter term moving averages trending down and trading below this 200 day. This is evidence of a bearish trend and should see the stock move lower over time. We have recently tested the 200 day ma @ 286 and seen a quick rejection in price. We are trading in a bearish channel and will be looking for a close below the R275 support level to confirm the break down. Also interesting to note is that the Stochastic indicator is showing bearish divergence with the indicator having made a lower high, even though price made a higher high on the daily. Target of this move should then be R235.
