Trad3r_16

Trad3r_16

BABA is currently on support (blue TL) and is coiling in a triangle. One can look to go long as long as support holds with the idea of holding on for a breakout to the upside. First target would be around 103 (resistance) where the price could possibly pullback to retest breakout - then move higher to 122. Stop loss on a break below blue TL or around 85.

Trad3r_16

AMD is forming a bullish continuation pattern. After breaking its downtrend (yellow) is peaked at around 133 and then started consolidating without yet backtesting its breakout. Currently, we see a bullish formation with the price testing the upper band. We will either see a further breakout from here or, the price could retest the bottom of the range - around...

Trad3r_16

MSTR has broken its downtrend and made higher lows. Long here and will hold until blue dotted TL support is broken.

Trad3r_16

HYP has broken out of a triangle and has also cleared horizontal resistance around 32.80 With interest rates stalling and, hopefully falling, these counters should do well again. Ideally, we would like to see HYP target the yellow band higher up from here (36+)

Trad3r_16

DRD reported decent results this morning and the technicals look to support the bullish case. Currently trading at the bottom of the range, this might be a good area to accumulate a few but more importantly, we would love to see this pattern play out with a break to the upside.

Trad3r_16

URA faked out initially by breaking its downtrend (yellow) but then failed the retest of its breakout by falling back into the triangle and dipping below 21. It has now broken out a second time, but this time it seems to have done so with conviction. One can buy the ETF (URA) or look for uranium stocks to punt.

Trad3r_16

The price of Iron Ore is coiling in a large triangle (blue uptrend & yellow downtrend) and a breakout in either direction is imminent. Bias would most likely be to the upside as there is quite a bit of support - TL and Horizontal - around 98.

Trad3r_16

Gold price has broken TL1 support and is looking like it could move towards TL2 - or the 1850 - 1860 area in which caseI would probably be a buyer, as long as TL2 holds.

Trad3r_16

As yields persistently keep rising in the US, TLT potentially targets 88 and maybe even 81 to the downside. Both levels are long term horizontal levels of support.

Trad3r_16

Palladium price, after also breaking a couple of key levels to the downside, has seemingly formed a base around 1220. It could still overshoot and test support lower down at around 1143. The bullish case needs to see price action break above resistance at 1350 in which case it could target around 1550 initially.

Trad3r_16

Vodacom was rejected at the horizontal resistance (R120) and has been selling off steadily. Next level of support is the upward TL (blue) which is around R108. This level is also the previous lows from earlier in May this year. Tight stop loss on a close below TL.

Trad3r_16

Sibanye, like the rest of the sector is in downtrend. The only level of support I can find at this stage is a gap that could possibly filled at 25.80 which dates back to April 2020..!

Trad3r_16

Commodities stocks have been smashed thanks to a stronger Dollar and the pain does not seem to be over. Impala broke some key levels of support and just when we holed there might be some support at around 116,90 - that level gave way too! Going forward, although looking more like panic selling and possibly oversold in the short run, the next level of serious...

Trad3r_16

FBR has been struggling to regain TL support (blue) for the last few trading sessions and now looks like it has finally broken its uptrend. There is a good area of support at the horizontal line further below at around R51.50 which should provide a good long opportunity. However, with these illiquid stocks, it might be a good idea to nimble beforehand, possibly...

Trad3r_16

Netcare still very much in the range. For the traders out there, one might want to look at buying around 13.65'ish and selling at 16- 16.35 or even lower as the top of the bad is not tested as often.

Trad3r_16

NPH and, platinum stocks in general, have pretty much imploded. NPH broke its last line of support at the blue TL (around 145 or so) and has been moving steadily lower since. The stock is seemingly headed towards testing the yellow band (anywhere around 105 - 110) in the short term, at which point we hope to see a small bounce. The trend however, is still downward..

Trad3r_16

SUI has pulled back nicely into what looks like a strong buy zone (32-34) Price is supported by both horizontal and TL support lines. A move above 34.50 would add conviction to buy with a stop-loss on a close below 30.

Trad3r_16

Platinum price is currently testing double support - white horizontal and the more important blue TL which is also the bottom of the range of a larger bullish channel. Ideally, we would like to see above higher from here to around 1150 - 1190. Alternatively, targets to the downside are 918 and possibly 830.