MarcoOlevano

MarcoOlevano Updated 

Looks like a nice area to get long for the next move higher.

MarcoOlevano

Note how the trendline that has formed has had its 3rd successive touch with a reversal candlestick. Each turn off support has created strong upside price action the following day. The level where the top40 found support is even more significant as the 67500 has been a massive change of polarity on many occasions through the second half of 2023. The bulls have...

MarcoOlevano

USDZAR some interesting developments for the Rand bulls. 50dma < 200dma (death cross). 3 lower highs forming what could be a potential flat bottom triangle with the base at 18.10-18.20. Some bullish characteristics here which could be shifting sentiment in favour of the bulls but it's still too early too call. Range bound between 18.95 and 18.20 now. A convincing...

MarcoOlevano

Nice reclaim of the broken horizontal and channel support on the COPX Copper miners ETF. Looks like we're headed back to the top of the years trading range at 41.80 which is an approximate move of 12% from current levels. Dr Copper being a proxy for global growth is always a positive for global markets.

MarcoOlevano

similar to ETH, 20dma and uptrending channel.. if we bounce here ,should move to FWB:46K next

MarcoOlevano

Logical place to bounce short term as the 20dma has been some support on the daily since forming this uptrending channel.. lets see

MarcoOlevano

While not a perfect construction this does look like an inverse Head and Shoulders. A break above the neckline resistance at 39.85 should see this poised to move to 42.00 and then the target of 43.30 which is almost 9% higher. Note price has been consolidating above the 200dma now for 13 days which is quite significant and i think the probability favour an upside...

MarcoOlevano

Prefer the more horizontal head and shoulders but never the less this looks like a good breakout with a target at +- $82.50

MarcoOlevano Updated 

Keep an eye on Motus, After reversing off S1 weekly pivot as well as the 200wma, chances are good for a range trade back to the top of the box between R105-R108. Entries between R87-R92 (closer to R87 the better), Stop loss a move under R82, with targets at R105-R108. If you manage to enter around R88 thats a R6 risk for a potential move of R17 to R20 to target,...

MarcoOlevano Updated 

Telkom beat expectations on results and now rallying and breaking neckline of this inverted head and shoulders formation. Should see a target of R28 in the near term

MarcoOlevano

I think once can accumulate Growthpoint between 1020-1030 for an eventual pop to 1070, 1090 and 1110 (200day ma). There is some forced selling due to the MSCI index rebalancing but once this is over the stock should get some legs again. If buying use a stop loss as a close below 1000. the 20dma which was previously resistance has now turned into support and the...

MarcoOlevano Updated 

Richemont (JSE:CFR) Breaking the significant down trending channel which has held price lower since July in a very controlled 'Fashion' (excuse the pun). The level we bounced from is the 50% fib retracement from the May 22 lows and May 23 highs. RSI and MACD has been building divergence for weeks where the indicators made higher lows which was not confirmed by...

MarcoOlevano Updated 

Good level to monitor for a reversal at the bottom of the channel..

MarcoOlevano Updated 

The US Small cap equities index - IWM - Russel 2000, has approached a massive level of polarity. This 160 level is where the old resistance has turned into support previously. Monitor for reversal and continuation upwards. A break of this level however could really cause massive technical damage. The bulls have their work cut out for them this week

MarcoOlevano Updated 

3 new lows in price, not confirmed by higher lows in RSI.. Is this warning of a rally to come in the JSE's top40 index?

MarcoOlevano Updated 

i0.wp.com Stock has broken out of this broadening pattern to reach new all-time highs with a measured target of at least $360.00 after beating expectations and and raising guidance. Ferrari Stock Is on Track to Hit All-Time Highs — WSJ Nov 3, 202321:31 GMT+2 RACE +1.78% By Hardika Singh The company that makes some of the hottest cars in the world has a hot...

MarcoOlevano Updated 

Did some work on breath indicators tonight and interesting how well the McClellan oscillator worked with divergence to find the bottom in the recent SPX sell off. From Investopedia: What Is the McClellan Oscillator? The McClellan Oscillator is a market breadth indicator that is based on the difference between the number of advancing and declining issues on a...

MarcoOlevano Updated 

Bitcoin bulls beware, we are seeing a triple bearish divergence pattern on bitcoin where price has made 3 consecutive new highs, not confirmed by the RSI indicator which has made 3 lower highs. These sort of patterns usually result in a correction from over-extended price action. My larger target from this would be the 0.236% fib retracement level at approximately...