RobbyP

RobbyP

After having broken previous support near R180.00, Shoprite is looking perilously weak. This seems to be the case with most retailers but the once "stock market darling" certainly looks to be struggling to gain any upside momentum whatsoever. If support level 2 does not hold, there is a very very long way down. Don't kid yourself, R130.00 is not impossible

RobbyP

Call me crazy, but today's Sasol shocker provides an excellent trading opportunity. Today's "flash crash" has taken the price back down to a monster support level and I really think this is one for the punters. If fortune truly does favor the brave, then I should be just fine. I have bought this support level for a bounce back above R400.00 and I wouldn't be...

RobbyP Updated 

Vodacom is approaching the top line resistance within a bear flag. Some might even call it a "consolidation" pattern. With the RSI pretty much in no man's land I am looking to short any bounce near R120.00 or better. A break above this "sideways" pattern would be considered bullish and that would be my signal to exit the trade and take a stop loss. With multiple...

RobbyP Updated 

I have spotted a Head and shoulders inside a head and shoulders on the stock. The price has bounced to test the common neckline so I have used this bounce to get SHORT. RSI and Stochastic RSI are still weak so I don't expect the bounce to carry. I'm looking for a move to below R22.00

RobbyP Updated 

Brent crude has been under the cosh lately but if "the trend is your friend" then you have to believe that it will bounce from here. a few positive days in a row now suggests that we have found a level and that she can make another run for $75.00 in the next couple of weeks

RobbyP

Plain and simple...the price has bumped its head at this level SIX TIMES now. I am counting on it happening again. Upward momentum is slowing and there is negative divergence creeping in on the RSI now. I'm looking to get short just above R69.00 for a 10% move lower... let's see what happens...

RobbyP

Sanlam managed to break its own upward trend back in March and has now made three attempts to resume it. Significant patterns here as the much larger head and shoulders seems to have failed but there is another smaller head and shoulders forming just below that previous trend line. Does that mead the larger pattern is back in play? I certainly think so. If current...

RobbyP

Sappi (SAP) took a hit after shock Q2 results yesterday. A late afternoon reversal saw the stock trade 4% off the low, indicating some buyer interest near the R60.00 level. The market has clearly decided to price in poor Final results (Sep 19) in one day so I think a relief rally is most certainly possible. From a technical perspective, yesterday's late reversal...

RobbyP

I'm looking to buy DSY at around R144.00. It's holding up nicely at that horizontal support in a wedge pattern. the next move could likely be back towards the top of this wedge. Investors seem to have shrugged off their soft results and that bodes well for some bullish price action

RobbyP

SHP approaching overhead resistance just below 200.00. Momentum indicators are looking weak which means there is no real buying impetus at current levels. I'll be looking to short after retail figures this afternoon. Levels are indicative only, but i do think this is a high probability short

RobbyP

The price has come down steadily to test the rising trend support at around 126.00. However, there a small horizontal support at 124.00 that is a stronger buy. The stock is extremely over-sold at current levels but it does leave the door open for price capitulation. The play here is to wait for a green candle and then buy for a relief rally.

RobbyP

I am of the opinion that our Rand rally may be over-done and we could see weakness from here. This would see pressure come in on the financial and retail stocks mostly, but our banks specifically have had a sharp bounce and I expect them to take a breather. Looking at the chart, the STXFIN ETF is approaching a resistance zone at the 200 day moving average and is...

RobbyP

Kumba's horizontal resistance coincides very closely with the 200 day moving average. Having broken below this moving average, it signals a sell on the stock. We are currently seeing a bounce to re-test that level as well as resistance...I'll be looking to short R314.00 for a downside target of R270.00. Risking only 2% of my portfolio, the stop loss is placed at...

RobbyP

Interesting observation on Sappi (SAP.JSE). The bottom of the range coincides (almost) with the 200 day moving average. Becomes a STRONG buy at R80.00. buying here makes it easy to place your stop loss as a breach of the 200 day moving average would signal a bearish break lower. Take profit level is the top of the sideways channel.

RobbyP

I will tell you off the bat that I am bearish on the whole retail sector and already have a short on Shoprite (SHP). Looking at Truworths now, it looks like the rally is fading with the price now heavily over-bought and some negative divergence creeping in on the RSI. TRU is approaching a short term resistance point which I think can be shorted for a move back...

RobbyP Updated 

Pretty self explanatory but here goes... Neckline of a massive head and shoulders pattern has been broken. A re-test of the neckline (187.00-190.00) will be the place to enter a short for a very large move down. I repeat...very large... Target1: R150.00 (conservative) Target2: R140.00 (aggressive) Target3: R100.00 (Ultra-aggressive)

RobbyP

Chart says it all. I'm looking to short the next bounce. Analysis based on the weekly data. All indicators still pointing lower. Risking 2% of portfolio

RobbyP

BRENT crude has been in over-bought territory since 22 August. It looks like it could roll-over here for a move towards $73.00...It's a brace short but what a nice move if you catch it!