Bearish Pin BarSLM made a bearish pin bar with volume on Friday after results, not a good sign. Below R63 triggers the short idea towards support at R60. Above R65 short idea is out.
SLM trade ideas
SANLAM finding support on the 200 moving average.JSE:SLM broke the downward trend that it was trading in since July 2020 when it formed higher highs in early November 2020. Since then, it has been consolidating and has found significant support on the 200 Moving Average. I will wait for a breakout of the consolidation zone, and if it breaks through the 6000 level, I will consider a long position.
Sanlamclose about inverse H&S neckline resistance; we are in for some upside!
Measured target is 72.
Consolidation BreakoutWish I got around to posting this earlier this morning but unfortunately got distracted! The 3-month consolidation above the 200 Daily SMA has finally broken out. The initial breakout target is at the Monthly S2 near 62.90 with the full target near the Monthly S3 @ about 65. Stops should be considered at 57.70
JSE Life Assurers - Volatility Compression at the 200-day SMAJSE Life Assurers | Volatility Compression At The 200-day Simple Moving Average (SMA) | Our filter has recognized technical similarities between the four major life assurers, where the price has been consolidating in a tight range around the 200-day SMA following an extended period where the price traded in a downward trend below the SMA. We recognize the 200d as being a key trend indicator where a shift above or below this level may lead to a substantial move in either direction.
Sanlam not looking great, another laggerSanlam is another lagger looking bearish. The share making lower highs. Not following its peers in the financials
SANLAM on the way upJSE:SLM seems to be heading up from the lows it reached at the end of October. The stochastic, MACD and exponential moving averages are all confirming this move on our trend-following momentum strategy.
SLM - strong break through descending trendlineWith Friday's upward move, JSE:SLM has convincingly broken through a descending trendline that it has been obeying for quite some time. If it continues upward, I will consider a long position all the way up to the previous resistance level around the 7000 price range. The stochastic, MACD and EMA's are all confirming this upward momentum.
Long on SLM if trend brokenJSE:SLM is looking decent for a potential long position if it breaks through the downward trendline that it has been forming since July. Keep an eye on this to see if it breaks and confirms above to signal a long position.
Re-test of R60 could be on the cardsA re-test of R60 is on the cards. Low volume and potentially a reversal candle could signal a long opportunity on SLM. One to watch this coming week.
$JSESLM nice breakout for SANLAM LIMITED$JSESLM nice breakout for SANLAM LIMITED, perhaps next target on the 200 MA.
Weekly game plan 5 July 2020 - SLMNice pennant forming on SLM. We're watching for a break in either direction.
Weekly game plan 24 May 2020 - SLMStop loss trigger on daily close saved us from being stopped out here :)
Bearish Flag on SANLAMA bearish flag pattern has formed on JSE:SLM . If the price breaks through the bottom of the flag we could possibly see a nice downward move.
$JSESLM forming a bearish rising wedge formationSanlam has spent the last couple of weeks consolidating in the form of a bearish rising wedge formation. The move higher off the lows has appeared on lower volume which gives bulls little confidence in this move. Should we manage to see a convincing close below the rising wedge at +- R56.00, this rising wedge could play out with a downside target of R41.50. What is also interesting to note is that the stock has battled to make any progress above the declining 50 day moving average (purple line) which has been respected by the market. Keep a close eye here as the target is quite rewarding should this pattern play out in textbook fashion.
SLMShould SLM trade into the 5800 to 6050 region an form a reversal would set up a good short opportunity.
Entry - 5800 to 6050
Stop Loss - 6231
Targets - 5250 and 4800
SLM - Long Term View20-Year Channel Breached. Next major support 5200c, followed by 4400c (a level we probably wouldn’t want to see).
