Fumba

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Short-term trade.

Fumba Updated 

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...

Fumba Updated 

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.

Fumba Updated 

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...

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Nas100 short-term setup idea.

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I am still expecting a bit more sell off from DAX this month. Potential entry at 12 884 level, SL at about 12 715 level and TP and 13 223 point. This gives a 1:2 RR. This analysis follows the 9th of August setups and it followed case 1 after we took TPs.

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NAS100 is still seeing some weakness and giving back off its recent long rally. US elections still coming up this month and NAS 100 can still see a more decline. Fundamentals will guide us through and either movement 1 or 2 can be expected.

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Congratulations on those who took the massive Gold setup I shared.

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We reached our TP from the previous setup idea and NAS100 shot up again as Trump signaled a relief to investors on Friday's conference. With the protest in the US, Covid-19 pandemic, ongoing US vs China war over Hong Kong and collaboration of SpaceX and NASA that launched to space, we can expect a slight shoot up (about 50 pips max) on Monday's opening followed by...

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We can expect Sasol to still dip for a bit because the daily breakout was not that strong. Overall, Sasol expects a rally and fill the R10 400 and R16 000 gap.

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Bearish momentum still looking strong as our last post on it.

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With Friday's gap being filled, NAS100 has been struggling around the 9500 mark. With the FED trying to pump up the market with new bonds, zero-rate interest rates seemingly possible, trade war between China and the US, and vaccine race in play, there is a lot of uncertainty at the moment. Surprisingly, buyer speculators seem to dominate but will not hold. We can...

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Potential setup for Nas100. Key entry position close to the 9175 level and first TP at 8648.

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Potential long position since a second wave of the Covid-19 seems to be at play.