Fumba

Fumba

Setup 1 is more probable but will look at both long-term setups. The greenback has been gaining some momentum based on various illogical parameters. Looking to take advantage of that. Remember to practice good risk management.

Fumba

HK has had a strong rebound. I hope traders are enjoying the profit or dividend payouts. However, the November month usually comes with bare movements (check the last 2-3 years). A retracement is also needed from the long downtrend breakout. Wait for your retracement confluences to enter. I suggest you take partial profit and add a sell position @22 600 and TP...

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The recent political events have proven to bring back some confidence in SA. However, it needs to coincide with the financial data. Look to add another position if it goes to the R17.50 level.

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Current potential setup I am looking at short-term.

Fumba Updated 

Potential setup idea I am looking at. The blue zones my fib levels that have been respected.

Fumba Updated 

Potentially looking at two setups. Whereby, idea 1 seems to be more probable but be on the look out for the 2nd setup. Scale with caution.

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On the previous setup idea, only the first part has played out. However, the index has respected the various fib golden ratios. Hence, we will stick to them as added confluence. I will also look at a 6-year VIX chart to couple this chart. On the VIX chart, we can see that the price is currently at a significant zone. May, late Sep, Oct, and December usually...

Fumba Updated 

The index has been bearish for 3 straight weeks. However, it is now at an important key level of support and has two bullish confluences present. I would ideally like to get a bullish engulfing candle as my last one or a reversal candle to add as confirmation. It is worth noting that the price is also likely to test the 77% Fib level as part of a liquidity grab...

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Are there more bears still yet to come? Are we in a bear correction? Bonds or Equity? Value vs growth stocks? Since the market is still divided, what are the few options you have with Dow Jones? My watchlist zones are around 32 800 and 31 800 marks. They have proved to be vital areas of resistance and support. Using a 100MA and 50MA (Red and blue respectively),...

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Two potential setups for Gold that I am focusing on.

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Short-term trade.

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My previous chart just need an update. After the 8 600 entry position I proposed, Sasol is still holding firm as we approach the earnings report. Keep holding it and do not be alarmed if it retraces back to the 18 000 level. It is still above the 50MA, 200MA and the fundamentals are not providing any erratic downward movement (specifically the rights issue). ...

Fumba Updated 

The 2 gold setups I posted on November and January followed through nicely with profits. Gold is still bearish bias but is currently at a strong support level and this poses a potential mini correction movement. Below are the previous ideas.

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Short term setups that I am taking for now. Bitcoin's relationship with Telsa in terms of price movement is worth watching. Twitter has became a playground where certain tweets and publications drive the movements. trade carefully.

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American Airlines has been bearish since 2018 and quite choppy over the past year. We managed to get in early an early entry on the 1st of June last year and it realized within 10 days (see below). The company's prospective is still not solid even though the recent earnings beat expectations. With the furloughs, lockdown restrictions, finance and debt repayment...

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MTN Group is still strongly bearish in the short term. A good recovery entry should be around the 5000 level to 7800 level. Note the daily downtrend is strong and the price struggled to break it or fill the early March gap. If it is broken, wait for retracement. Alternatively, use 6900 as your TP and fundamentals as your guide.

Fumba Updated 

Sasol is in a consolidation area. It also broke the bullish uptrend and failed to break the 16 000 mark. Overall, I am brearish till 8 600 level.

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The SA Top40 index has been facing alot of resistance lately due to the current pandemic and political climate. The SA president recently announced that they will ease the lockdown to level 1. Good news for airlines (and tourism sector) as international borders are open and more businesses will hopefully be able to resume. This should boost investor sentiment in...