RossLarter

RossLarter

JSE:CLS has been in a consolidation phase since the 4th of May in a sideways move. Today's price action has caused a breakout of this consolidation zone with quite a lot of momentum causing a bullish engulfing candle pattern to form. If it trades higher tomorrow, it will be looking good for a move to the upside.

RossLarter

With yesterday's upward move JSE:MRP has broken through the top of a symmetrical triangle chart pattern. Today's move seems to be confirming the break so far. If it breaks above the fractal from the 21st of May, I will consider a long position.

RossLarter

The market doesn't seem to have reacted well to the restructuring of JSE:VOD today and has formed a massive bearish engulfing candle with today's move. Along with this, it has broken the upward trend it has been following since mid March. If it trades lower tomorrow, I might consider a short position.

RossLarter

JSE:ANG has formed a double top around the 52500 level. It has broken through the "dip" between the two highs, which usually is a trigger to enter a short. We could see a move all the way down to the support zone at the 31000 level.

RossLarter

JSE:NPN has been trending upward since mid-March and with today's opening, it finally broke below the trendline that has formed. Although unconfirmed as of yet, this could mean a move to the downside. I'll be keeping an eye on what happens here next week for a possible short position.

RossLarter

JSE:MNP is in the process of forming an inverted head and shoulders pattern on the day chart. We could see a longer term upward move if the price breaks through the neckline at around the 33100 level. This might take a few days before it breaks this level, so I am just keeping an eye on it for now.

RossLarter

JSE:PRX formed a bearish harami on Thursday last week which is a top reversal signal. This was confirmed by the break through the upward trendline and the stochastic. This could mean a move downward for a while if confirmed by breaking below the low of last Wednesday.

RossLarter

A bearish flag pattern has formed on JSE:SLM . If the price breaks through the bottom of the flag we could possibly see a nice downward move.

RossLarter

JSE:GFI has been in an upward trend since mid-March and seems to have bounced off the bottom of the upward channel. We could possibly see an upward move towards the top of the channel.

RossLarter

JSE:NPN has formed a head and shoulders pattern and we could be looking at a nice downward move if it continues downward through the neckline.

RossLarter

Just by purely looking at the charts, JSE:IMP has formed a bullish engulfing chart pattern and we could see an upward move confirmed by the stochastic. I am remaining cautious as the world markets are all majorly down this morning, so I will definitely wait for a solid confirmation before entering long.

RossLarter

If the price breaches into the gap caused by this morning's opening, we could possibly see an upward move to close the gap. The international markets are all down this morning, so I would be cautious about entering a long, but it could potentially be a nice little upward move if confirmed.

RossLarter

JSE:MCG formed a Head & Shoulders pattern between March and December 2019, which played out nicely and reached it's target which perfectly coincided with the lowest low of 9031 from 6 March 2019. With yesterday's movement, it broke slightly lower, but retraced and failed to confirm with the close of the candle. Failing to confirm below this low could mean a...

RossLarter

JSE:DSY has failed to make lower lows on a support level formed in August last year. The Stochastic is confirming a possible change of trend as well, so I will consider entering a long position if confirmed with today's movement.

RossLarter

With yesterday's movement JSE:ABG formed a massive engulfing candle. The stochastic has confirmed this with a move upwards through the 20 line. I will consider entering a long position if confirmed for a move up to the resistance level at the previous high.

RossLarter

JSE:SGL is trading in quite a strong upward parallel channel. If it fails to break through the bottom, we can expect that it will head upwards towards the top of the channel.

RossLarter

JSE:GRT is trading at a previous support level from all the way back in December 2015. If it fails to break through this level, we could possibly see a retracement or a reversal. I will keep an eye on this one for a possible long opportunity.

RossLarter

JSE:SBK has formed a symmetrical triangle pattern and we can anticipate a strong move once it breaks out. For now, it's a neutral signal, but the move will depend on which direction the breakout occurs.