RossLarter

RossLarter

All three of the "momentum indicators" have turned up with this morning's opening which could indicate an upward move on JSE:ANG . It has also bounced off of a significant support level which goes all the way back to August 2019. If it continues with the upward momentum, we could see an upward move all the way to the 40000 resistance level.

RossLarter Updated 

JSE:SOL is showing signs of a momentum change, and we could be looking at a downward move to the support level around 15500. The stochastic and MACD have both crossed down a couple of days back and we finally have confirmation from the EMA's that the trend may be changing.

RossLarter Updated 

After a nice downward trade, JSE:AGL seems to be reversing for an upward move. Our momentum indicators, the MACD, Stochastic and 3 & 15 EMA's are all confirming this possible move. I will be looking at 60000 resistance level for a target.

RossLarter

The MACD and Stochastic indicators on JSE:GLN are both signaling a downward move. However, it is currently trading around a support level (+-5800) and I will be inclined to wait for it to break through that level before entering short. If it does play out, we could see a move to at least the support level of around 4900.

RossLarter

JSE:ARI has reached a level of resistance and seems to be turning downwards for a short move. It has been confirmed by the stochastic, MACD and 3&15 EMAs. If the move happens, we might see it go down towards the 200SMA where it might find some support before either bouncing upwards or continuing downwards.

RossLarter

JSE:CLS failed to make lower lows and bounced off the support level instead. It looks like we might be looking at a move upwards. All of the indicators in our Momentum Strategy have turned upwards indicating a long position.

RossLarter Updated 

Although it is trading in a channel, JSE:CLS is showing some downward momentum. It may very well bounce up off of the bottom of the channel, but if it breaks through, I will enter a short position. Beware of the 200SMA, though, that may act as a support level.

RossLarter

An ascending triangle chart pattern has been forming on JSE:CFR since early Jan. It is currently breaking out of the top of the triangle. If it confirms, this could be a good sign for a long position.

RossLarter Updated 

JSE:ABG is showing some downward momentum based off of the stochastic and MACD turning downwards and now the 3 and 15 EMA's crossing downwards. I am looking at a short position to at least the 11250 support level.

RossLarter

JSE:EXX is showing signs of a potential short trade coming up. The first signs came with the stochastic and MACD crossing downwards, and it has been confirmed by the downward cross of the 3 and 15 EMA's. I see it potentially moving down to around the 15000 support level, where it may retrace before potentially continuing downwards. Let's see what happens.

RossLarter

Although not confirmed yet, JSE:RNI is looking like we could be in for a downward move sometime soon. The MACD and EMA's are yet to confirm to the move, but the price has broken through the 200SMA which could indicate a change of trend. Keep an eye on this for confirmation of a short position.

RossLarter

JSE:KIO seems to have failed to make higher highs around the resistance level of 66000. It also formed a shooting star reversal pattern two days ago. This, coupled with the turning down of the stochastic indicator could mean we are in for a downward move.

RossLarter

A Bearish engulfing candle formed on JSE:SHP on 17 Feb. This was followed by a cross of the EMA's and the MACD. All of these indicate a change of momentum and we could be seeing a move to the downside. There is a gap that formed in September last year that we ight be looking to fill, failing that, it might find some support at the top of the gap.

RossLarter

It looks like there is a change in direction on the cards for JSE:DSY . Although not confirmed yet, it is looking like it's only a matter of time before the MACD and the EMA's confirm the downward move along with the stochastic.

RossLarter

JSE:BID is trading at a very strong resistance that has been held and tested multiple times since 2016. My logic tells me it won't be able to break through and will bounce down again. If it does this and comes down, I will consider a short at the 27700 level. Alternatively, If it breaks through and continues up, we will likely see a nice strong breakout to the upside.

RossLarter

JSE:PPH is currently struggling to break through a resistance level that goes all the way back to December 2017. If it doesn't break through and goes down, I will wait for it to break through the support level of around 1450 before entering short.

RossLarter Updated 

JSE:NED is currently breaking through the bottom of a triangle chart pattern. I will wait for confirmation on the close of current candle, but if confirmed, we could be looking at a downward move towards the support area around 10000

RossLarter Updated 

JSE:SLM broke the downward trend that it was trading in since July 2020 when it formed higher highs in early November 2020. Since then, it has been consolidating and has found significant support on the 200 Moving Average. I will wait for a breakout of the consolidation zone, and if it breaks through the 6000 level, I will consider a long position.