Quilter Plc - Full Long Target ReachedQuilter Plc - Full Long Target Reached
Original idea attached, 07 July.
QLT trade ideas
Quilter Plc - Target Range Tested. Bank These Highs (+8.9%)QLT testing the start of the target range 3260 (high of 3267c) in the last few minutes. Strong 5-day move so perhaps traders could look to bank this one.
Original long idea attached.
Active Trading Plan Update: VOD, AGL, NHM, BID, QLT & APNAt the start of each week we consider potential trading opportunities, specifically geared toward the active, short term trader, but not limited to insights relating to medium & long term opportunities. My research, to a lesser degree, also includes strategy charts (macro), other global equities/FX data as well as relative sector/commodity charts to support asset allocation ideas.
The attached charts are update from my Active Trading Plan for the trading week commencing 12 July. For NHM and AGL, I included both swing and day plans. For NHM, the day plan triggered, with strong follow-through in the subsequent sessions. For AGL, the price traded into the accumulation zone and tested the target range during Wednesday and Thursday's session.
Original comments as per the report. To be read clockwise.
1. Vodacom Group (VOD, 12818c) | POTENTIAL break of this tight trading range if a print occurs above the prior 3-day range highs around 12836c, to trigger an upside break of the ultra short term consolidation range. Target 13170-13250c. Note the positive divergence as per the 7-day RSI. Stop: 12665c.
2.1 Anglo American Plc (AGL, 58798c) | Swing Plan | The 2-month downward trend line is in focus, which if breached, portends further upside toward the 61000c/61400c area.
2.2 Anglo American Plc (AGL, 58798c) | DayPlan | It’s possible that the price retraces to the mid-point of the prior day candle, which is in line wit the 8-day EMA. Look for support here (57800c/58100c) to buy up to the 59100/59300c area.
Follow-up as at Thursday 15/07: AGL traded into my preferred accumulation zone and into the target of 610-614 before pulling back today.
3.1 Northam Platinum (NHM, 21718c) | Swing Plan | For now, and following a gradual multi-day advance, negative price action suggesting some sellers have returned. Traders could look to be a buyer in the range of 20740c to 20950c, which is the swing in place from 17 -22 June.
3.2 Northam Platinum (NHM, 21718c) | Day Plan | Platinum was stronger on Friday. Intraday, buy on strong bids above the 21860c.
4. Bid Corp (BID) Provisional Trading Plan -Originally Published Intraday on Friday 09 July at 32743c. The share has surpassed our buy/long target range of 31200c to 32000c from the suggested entry of 29300c, having traded at an all-time high 32749c during Friday's trading session. While the price remains in an active sequence above a rising 8 and 21 day EMA, the 7-day RSI is strong but nearing 'near overbought' territory. Having advanced from a low of 27169c on 13 May to Friday's high, we question whether the short term trend is becoming overextended and whether there is an opportunity for tactical short sellers? Consider the following (only applicable early in this coming week), the share may trade above Friday's high however, if the high does not hold then it may create a tactical short/sell down to the 31300c/31600c range.
5. Quilter Plc -Trade Idea: Buy/Long. With global markets at or near record highs, asset managers should be considered beneficiaries of the environment, with their capital-light business models supporting profitability. Having traded in a downward trend for just over 3 months, QLT is possibly attempting to turn the (technical) corner. Key Drivers: 9th attempt to breach downward trend line extending back to the peak of 01 April. 7-day RSI transitioning from neutral to bullish , with positive divergence and downward trend line breakout. Price attempting to break it's prior 6-day trading range. Buy at current levels (2972c) or better. Stop-loss: 2825c Target Range: 3260c-3360c
6. Aspen Pharmacare (APN, 16808c) | Initial buy in April at 147.14. The price action and structure for the share appears to be improving with a possible ‘next leg up’ as the price tests the upper boundary of a 2-month consolidation range.Confirmed on a close +17160c. Stop: 16520c.
The ideas published are normally part of a larger watch-list. For more of these trading ideas, insights and opportunities, get in touch today.
Quilter PlcWith global markets at or near record highs, asset managers should be considered beneficiaries of the environment, with their capital-light business models supporting profitability.
Having traded in a downward trend for just over 3 months, QLT is possibly attempting to turn the (technical) corner.
Key Drivers:
- 9th attempt to breach downward trend line extending back to the peak of 01 April.
- 7-day RSI transitioning from neutral to bullish, with positive divergence and downward trend line breakout.
- Price attempting to break it's prior 6-day trading range.
Buy at current levels (2993c) or better.
Stop-loss: 2915c
Target Range: 3260c-3360c
Note: If you're concerned about the potential impact of the Fed minutes tonight then you could look to delay the purchase to gauge the market's reaction.
Ascending triangle on QLTA beautiful ascending triangle pattern on Quilter. Showing an even healthier uprend on the daily chart. With an even steeper support line. I’m looking for a break through 3378c. My target on the stock is 4772c.
Quilter @ strong resistanceJSE:QLT seems to be currently bouncing off of a very strong resistance where it has not broken through numerous times. If it fails to break through again this time, I will consider a short position on it's way down.
Quilter Plc - Skyscraper ViewContinued Portfolio Idea: A buy/long recommendation from 08-October at 2880c, Quilter Plc advanced by 17% over the period, reaching a high of 3390c during last week. While the medium term trend has been higher, a review of the monthly chart reveals an equally positive technical structure with the price trading 6.66% from it's 52-week highs. One would think that the share has advanced greatly over the 12-month period however the price range range-bound during the period, and, while the share trades close to it's 52-week highs, both the monthly and weekly RSI momentum indicators are ranked as strong but not overbought, with readings of 57 and 55 respectively. We also note the price trading above it's monthly pivot while a close above 3425c opens up 3700c and 4300c as medium and long term targets. Temporary failure below 3040c.
QLT - Dark Cloud Cover at a Resistance LevelA dark cloud cover pattern has formed on JSE:QLT . This is a bearish reversal pattern and if it trades lower than the open of today, it could be looking good for a short position down to the 200MA or further down to around the 2750 level.
QUILTER possibly on the riseJSE:QLT is showing signs of an upward move. There was a massive engulfing candle a few days ago and the stochastic and MACD are confirming upward momentum. If it break higher and the EMA's cross, I will consider a long position.
QLT making a turnaroundJSE:QLT has been in a bear trend since mid August and seems like it is making a turn. We could be looking at a move all the way up to the 3350 area if it breaks through the resistance around the 3000 level.
QLT - potential wave 4 consolidatingFOR INFO ONLY - NOT TRADING ADVICE
Stops and targets on the chart
QLT -LONG IDEAJSE:QLT
- Retest of break out zone , possible move to even R28.00 is probable
- Great play on weakening ZAR/GBP. Good long only buying around bigger levels.
- Target , previous highs , second target R36.00.
JSE:QLT Quilter OverboughtAfter an accumulation trading range, Quilter is being marked up in a defined upward stride. Price has now reached the overbought line and it is time for a pullback. Volume has climaxed and it is possible that this could be the start of another trading range.
Quilter Plc - Bearish Price Setup- Price at big overhead resistance
- Bear flag developing
- Last two sessions has seen spike in volume with both days ending in the red.
- Breakdown targets 2513c
Long Top5 oversold/overbought according to RSI & $JSEQLTEnd of week 15Mar19. Nice little run from Quilter on the back of a weaker $ZAR/GBP ( FX_IDC:GBPZAR ). Impala also continued its run, bringing YTD growth now to 75%. Another newbie in the "runners" list is MultiChoice. FTSE/JSE Allshare ( JSE:J203 ) Top5 oversold/overbought according to 14day RSI indicator as follow:
JSE:DLT 12
JSE:TON 17
JSE:ADH 23
JSE:REB 23
JSE:MNK 24
JSE:QLT 87
JSE:DTC 80
JSE:IMP 80
JSE:MCG 79
JSE:NHM 75
Spending a bit of time on Quilter. Justified run and when you look at the graph compared to the ZAR/GBP, you can clearly see the reason, “why”. QLT now trading very close to its September and all-time highs. The worry I have is that the Rand was under extra pressure lately. Add to that a possible breather in the GBP, QLT could be seen as overbought over the shorter-term.
On the upside, I’m watching the R28 level (stop-loss). Downside however worry me a bit, with a possible pullback eyeing that top of the wedge at R25.25. A break through those levels, only see support at the 50-day moving average at R23. At 87, the 14 day RSI confirm that the share is highly overbought.
According to Thomson Reuters consensus forecasts, analysts got a HOLD on the company and still see possible upside of 7.6% in the share price (expected one year forward)
Buy/Long Setup on Quilter PLCPotential Buy/Long Setup on JSE:QLT driven by these key factors:
- Price support seen at 20.32 and 20.50
- Prior bullish turns on Money Flow Index accompanied by rising price while bearish turns has seen the price move lower. See chart marked 1,2 and 3 (bullish turns) as well A and B (bearish turns).
- Stochastic Bullish Divergence
- Accumulation/Distribution is trending lower however the RSI for the ACC/DIST is signaling bullish divergence
I am looking for strong price action above 2040c as confirmation for a buy/long.
Stop-loss: 1930c
Take Profit Target: 2270c
