BATS had a selling climax into 38.2% long term Fibonacci support when Philip Morris missed on earnings.
This was the end of the correction and the share is currently breaking out of its downward channel.
With a low PE en high dividend yield its the perfect time to buy the share.
A huge reward available with little risk
After the big fall on the 16th and 17th of Jan, Bitcoin recovered and tested previous support that became resistance at $13,000 and this level held. What followed was a big bearish engulfing pattern on the 21st of Jan indicating further downside ahead. First target is the long term 61.8% Fibonacci retracement at $8079. Due the nature of this market this level...
USD/ZAR is currenlty in a bear flag and could break on positive political news in South Africa. First target 11.80, a long term 50% fib retracement. Next target 10.50 long term 61.8% retracement..
USD/ZAR long R11.73. This is the 50% Fib of the long term trend from 2011 to 2015 and falls perfectly on 2008 highs. I'm going to use this idea to buy rand hedge stocks for long term and not as a currency trade.
