Trad3r_16

Trad3r_16

The Foschini Group seems to be in an area of decent support. It is testing the bottom of the range (yellow parallel band) and also the upwards blue TL. Any price around 82 seems like a good level for a long, with a stop loss on a close below 73.

Trad3r_16

SBK is probably has the best looking chart out of all banks currently, in my opinion. Whilst the other major banks have overshot levels to the downside, SBK managed to hold onto the first blue TL at around 160. ZAR weakness cold be a determining factor going forward, and we might see SBK push lower to second level of support, anywhere in the mid-150's (solid blue...

Trad3r_16

MTN is currently finding itself testing double TL support. Share sold off quite heavily yesterday and seems like it might be overdone. Should support fail here - around 124 - we could see another down leg to 110. Stop loss on a close below 109.90

Trad3r_16

ABG has fallen quite hard and is currently trading at the bottom of the range of the blue parallel channel (175 ish..) Needs to reclaim 182 to get going again but a close below 172 could negate this move.

Trad3r_16

GLN has pulled back nicely from recent highs (around 124). Currently on blue TL support (just above 100). Would like to see a bounce from here with a stop loss on a close below 95.

Trad3r_16

DRD was looking good - bull flag breakout and well on its way - until it proved to be a fakeout! Will now look to pick it up either at the bottom of the flag range (around 12.65), or will look for another breakout attempt with a target of 15.70. Although Gold price is struggling, ZAR is still very weak which could help.

Trad3r_16

Merafe has slowly been creeping up higher of late - has held TL support (blue) and broken clear of horizontal resistance. Strong move higher possible. Stop loss below 1.33 and re-look to buy back around 1.25

Trad3r_16

African Rainbow was rejected at the top of the range (307) once again after a small fake-out. Ideally, would like to see it pull back to around the preferred buy zone (220-225 range)

Trad3r_16

Sibanye, like all platinum stocks has also been hard hit. Stock is approaching blue TL support (around 37) where I would expect some decent support. Should it fail to hold and possibly overshoot, the low 30's look like a great are to accumulate. Stop loss below 30.

Trad3r_16

AMS has sold off quite heavily breaking a few support levels to the downside - (1370), (1124) and finally (1050). Not even the blue TL held up. Stock might be overdone short term and could be worth a bounce at these levels for a medium term hold. Look to trade in the 1050 - 1370 range. Unfortunately seems to have free air below, so stop loss is a tough one....

Trad3r_16

SHP looks good at current levels and is currently trading in a buy zone. Retailers are coming under pressure as trading updates are released, but if blue TL holds, SHP can move to an initial TP of around 246.90 with an extended target of 254.00. Stop loss on a close below TL support (blue)

Trad3r_16

Following on from previous post, Renergen did in fact break out and ran quite hard to just over R31. It has since pulled back and is once again in the buy zone. Happy to buy this R25 or below and hold for the longer term. Stop loss will still be below TL support. (Blue)

Trad3r_16

Renergen has has reclaimed TL support (blue solid line) and is now back in the buy zone. To really get going, stock price needs to break the the blue dotted TL line to the upside as confirmation. Stop loss is a close below 23.

Trad3r_16

KRO posted a SENS this morning announcing 3rd Quarter Unaudited financial results - look decent. On the chart KRO has been in a sideways consolidation pattern since august last year, but is now coiling between its yellow (downtrend) and blue (uptrend) TL's. The play here is to look for a break on the upside (yellow downtrend) initially, and then should it clear...

Trad3r_16

Brait has held onto long term TL support (blue solid line) and at todays levels, is breaking its downtrend (yellow) for the 4th time. It has pulled back heavily since its last up move, so might be worth a bite here for another move to a possible R5? Stop loss on a close below the solid blue TL support.

Trad3r_16

Jubilee Platinum is lagging the rest of the sector. We have seen good moves in stocks like Impala and Amplats, but Jubilee is still trading close to its lows. I think at current levels and trading near the bottom of the range of the blue TL, this one is worth a punt. First hurdle will be the downward yellow TL, and thereafter we need to see a close above 2.70....

Trad3r_16

SPP has been hard hit and negative sentiment in the news has not helped. Major support was initially broken at 136.13, then further minor support was broken at 128.94. Share is now approaching long term support at 106.12 but at current levels one could possibly start building a long position. Stop loss below 106.00.

Trad3r_16

Interestingly, and quietly, DRD has broken out from a bullish falling wedge. I am a little sceptical on Gold still but will be interesting to see where this goes. One could take a punt for a long to about 15.40 -45, with a stop loss on a close below 11.65.