Innocentmaponde

Innocentmaponde

Last Thursday (17 Jan) we saw the price break the support on the bear flag which had formed on the daily chart. With a Trading update expected in early February (which I'm expecting to be bad) I'm expecting further downside. I'm calling a short on DCP on a restest of the breakout level around R27.50. A price of R28.50 will be my signal to get out.Take profit target is R25.

Innocentmaponde

Observing for a 'short' based on the rising wedge pattern that has/is forming.

Innocentmaponde

The R5.60 area is the level to watch. A break below this level could confirm the bear flag pattern.

Innocentmaponde

After last Friday's (11 Jan) release of a trading update by Richemont (CFR), we saw price temporarily breaking the R94/R95 resistance to hit a high of R96.28; but only to close at R94.68, with an 'indecision' Doji candlestick forming for the day. Yesterday's (14 Jan) price action saw us closing below the critical R94/R95 area (at R93.90). The R94/95 resistance...

Innocentmaponde

#DailyChart: Price has broken to the other side of what looked like a descending triangle pattern.

Innocentmaponde

Nedbank daily chart showing price attempting to break to the upside of an ascending triangle pattern that has formed. Resistance is at R275. During the past week we have been seeing intra-day highs above this area, but still managing to close below it.

Innocentmaponde

I'm seeing a bearish rising wedge on the MRP daily chart... At the same time we have just seen a bullish golden cross involving the 50dma and the 200dma.... I'm bearish all the same!

Innocentmaponde

In December we saw the price breaking below the R32 support area. Now the price seem to be making an attempt to test the breakout level, but a bear flag is forming in the process. I'm monitoring the R30.50/R31 area for a 'Short'.

Innocentmaponde

JSE Richemont has been range bound between R88/R89 and R93/94 for the past 6 weeks. To the upside , a beak above the R93/94 resistance could open up to the R100 area; but on its way is has to break the 50dma which is around R95.50. But a break below R88 could take us further down.

Innocentmaponde

I'm seeing a descending triangle pattern in play on the Daily chart. A convincing close below R179/R180 could expose the R165 area.

Innocentmaponde

Price approaching incline resistance on the Daily Chart chart. I'm bearish at current levels (R191/R192) for a TP target around R180.