A Head and Shoulders pattern has formed on JSE:BHG and with yesterday's downward move, our order to go short was triggered. The target of the H&S lines up nicely with the support level at around 520. If this downward momentum continues, I think it's safe to say that we will reach target on this trade.
Our JSE:ANG short position is doing very well so far today with some good, strong downward momentum. If this continues, it stands us in good stead to reach our target.
All indicators on our momentum strategy have crossed downwards - which means that we have placed an order for a trade downwards. Our target for this trade will be down at the R384 level.
JSE:BVT was trading in a sideways consolidation zone since the end of Nov 2023. With Thursday last weeks price action we saw a breakout through the bottom of this zone. It has currently retraced a bit, but if it turns back down out of the zone I believe we can see a nice downward move.
A head and shoulders pattern has emerged on JSE:FSR and with yesterday's price action we saw a break through the neckline. With this trade we are looking at a target around the 58.60 level.
Along with the stochastic, MACD and 3&15 EMA's all signaling a downward move, JSE:CPI has also broken through quite a strong upward trendline. It is looking good for a short position if this momentum continues. We are aiming for the target down at the support level at around R1686
Our JSE:ABG long position has paused at a resistance level for the last 2 days. It hasn't reversed completely yet and looks like it is testing the level. If it breaks through, I am quite confident that it will go on to reach our target.
A Bearish Engulfing candle has formed on JSE:BID which is a top reversal signal. Today has moved up for now, so the trade hasn't been triggered just yet, but we will keep an eye on it to see if it triggers in the next few days.
A short position has been triggered on JSE:APN with today's downward move If it continues with this downward momentum, we would like to reach the target down at the 164 level.
Although our short position on JSE:SHP had a rocky start, with it retracing and going upward for a few days, I think with today's downward move so far, it is definitely still looking like it could become a profitable trade. If it breaks the lows/support level of 17 Jan and creates lower lows, we have a good chance of continuation to the downside.
A bullish harami pattern has formed on JSE:BHG which is a bottom reversal signal. Although it hasnt triggered our order just yet, if it moves in an upward direction, the stochastic, MACD and EMA's will most likely signal a trade as well, hopefully this harami pattern will get us in the trade earlier than our momentum strategy indicators would have.
We are in a short position on JSE:MTN and although today's price action is an upward move, I am confident that the prevailing downward trend will remain. We are aiming for the target at around the support level of the R91 area.
A short position has triggered on JSE:PPH and is currently showing nice downward momentum. We are hoping to reach the target at 14.70
The stochastic, MACD and 3&15 EMA's all showed signals of a potential short position yesterday and the trade has been triggered this morning with today's price action so far. We are looking at a target at around the R176 level which coincides nicely with a previous support level.
A short position has been opened on JSE:SBK based off of our momentum strategy. We are aiming to reach the target at around the R172 level.
A symmetrical triangle breakout has occurred on $JSE:NED. The trade was triggered today and is currently retracing a bit upwards. Looking to reach the target at around the R183 level.
A short has been triggered on JSE:INP this morning but has since retraced and has formed a bit of a hammer candle for now. Hopefully this is just a temporary up move and the price continues with its downward momentum towards our target at the R104 level.
A Bullish harami pattern formed on JSE:OMU on the 30th of Nov and 1st of Dec. This could mean that we could see an upward move from here as this is a bottom reversal signal. The stochastic is confirming this move. If triggered, we are aiming for the target at the R13.91 level.