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Source_Sailor

A Recall from our 31st December 2023 article when we anticipated a fall of the USD to R17.40: "In April 2022, major institutions sold the Rand off when it was trading around R14.40 ~ R14.80 against the US Dollar. Price proceeded to print a steep rising channel, capping off close to R19.92 with a shooting star and a beautiful bearish engulfing candle that closed...

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Sephaku Holdings Limited had a taste of gravity in April 2015 when it tumbled from highs of R10.22 and went headfirst to smell lows of 23c by June 2020. The stock consolidated to close the week of the 11th of October 2021 at R2.06. From this point we saw interested buyers closing the coming weeks in a “cup and handle pattern”, effectively printing a higher swing...

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JSEVOD fell off a cliff from its all-time high of R186.99 in August 2017 and left a gap between R177.10 and R168.81 while going on a downward trajectory, reaching lows of R90.70 around March 2020. We then saw a bounce rally taking us to R163.48 before sellers stepped in around April 2022 to have price sniff R85.44 by April 2024. We have seen a positive recovery...

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After tumbling from its all time highs of R18.05 in April 2023, JSE's Mustek Limited went on a steep downtrend and reached lows around R8.00 beginning of April 2024. The instrument has since formed a Cup & Handle pattern from this R8.00 zone on the 'Daily' line chart, giving bullish reversal sentiments up to at least R10.44 and a +13.4% run chance from current...

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The last time we looked at this instrument was in August 2023 when it was predicted that price may fly or decide to take a dunk to levels around R9.50 to cover the right shoulder downward-projection of the "Head and Shoulders" pattern that was painted if it breaks the neckline. Price proceeded to impulsively break the neckline towards the end of September 2023 and...

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After a shock rally from lows of R4.15 in early 2009 to highs of R115.20 going into 2015, Coronation has been on a downtrend that formed a large falling wedge. both bearish and bullish legs within the wedge have been lasting 2 years on average, with the latest bearish leg starting early 2022 before getting intercepted by a sideway trend just 9 months later towards...

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The US Federal Reserve Bank is set to announce its interest rate decision on the 31st of January 2024 and the US Dollar has been trading mostly sideways since the 17th of January 2024, closing Friday and last week with an indecision candle. Looking at recent price action, Friday's close was above the 50 Day EMA and we can expect the USD to move bullishly...

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JSE:MPT tumbled from its all-time highs of R54.99 in February 2016 and melted all the way down to find support at R1.11 in the first week of March 2020, closing the week with a beautiful hammer candle. The instrument then went on a massive rally to R37.50 and has since been consolidating. The stock is trading at R29.50 and looking at recent price action, it has...

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JSE:S32 took off from the lows of R16.37 in March 2020 and went on a +230% impulsive rally to R62.50 that ended in March 2022 before price started moving sideways to correct. Considering the latest price action, the instrument has been correcting in the form of a bullish flag and is currently trading at R40.80 above the 50 Day EMA after a double bottom structure...

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In April 2022, major institutions sold the Rand off when it was trading around R14.40 ~ R14.80 against the US Dollar. Price proceeded to print a steep rising channel capping off close to R19.92 with a shooting star and a beautiful bearish engulfing candle that closed the first week of June 2023 below R18.70. This was an indication that Rand buyers that were...

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JSE's Woolworths Holdings Limited took a sharp nose dive in November 2015 from its all time highs of R108.00 and tumbled all the way to R24.00 where it found support in March 2020. Typical bullish short term bullish pullback trends lasted 6-8 months in that entire period. After price had found support it painted a steep rising channel which got capped off at...

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JSE:SLM has been trading sideways between R43.96 and R73.20 from March 2020 after tumbing from its all-time highs of R98.49 in early March 2018. Price just retested the resistance band around R73.20 and has been having a bearish reception since Monday the 18th of December 2023, however price had managed to close last week Friday strongly bullish at R74.31. This...

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JSE:JBL slipped from its all time highs of R20.00 in April 2007 and went on a rollercoaster ride that eventually dragged sideways below R1.00 from late 2013. The instrument found support in March 2020 and rallied to R4.26, forming a big "cup" when analysing price action from May 2011 on the weekly time frame. The handle of this cup started in April 2021 in the...

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JSE:RDF printed its last exciting high of R12.17 in April 2018. The stock has since been on an impulsive sell off that saw some buyers interested to correct the movement from R1.39 in March 2020. Price took another breather at R3.46 in April 2020 marking a level of interest. Considering internal structure, price has been forming an upward slanted support since...

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From Nov 2021 to June 2022, JSE:PPE painted a double top structure and bears took control of the price in August 2022, squeezing it into a sharp falling wedge. Price still has some wiggle room to the downside and the instrument may be seen testing levels around 43 ZAC, which coincide with the height of the double top projected downwards. This price area is also...

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JSE:NTC soared from lows of R5.81 in October 2008 only to have the Bulls get a wing snip at R44.38 in March 2015. The stock has since been on a steep meltdown with short term pullback bull-trends typically lasting less than 12 months. It has now been almost 3 year with the price caught in a falling wedge from a pullback that started in December 2020, which may be...

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The GBPUSD pair has been making higher highs and higher lows after finding support around 1.20750 USD towards the end of October 2023 following a fierce sell off. Price is moving in a corrective rising channel and is forecasted to keep climbing to test the 1.27130 ~ 1.27460 USD zone. This zone sits nicely around the 61.80% Fibonacci retracement level of the...

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JSESOL has been testing the neckline of its broken Head and Shoulders with a bearish flag as also analysed and published by @Source_Sailor on 18th August 2023. Last week closed strongly bearish as a signal that the avalanche is gaining momentum. Targets to look for to the downside are R186 and then more or less a waterfall to R71 past R122. Short term pullback...