Trad3r_16

Trad3r_16

Telkom has pulled back into a buy zone and could be traded in a small range - 32.50 - 37.50 for the short term. Should it break out from this range, one could hold till it hits yellow overhead resistance. My stop would be a close below 31.50.

Trad3r_16

Redefine has pulled back to support (around 388 - 390) after breaking its downtrend (yellow TL) and pushing to 440. This is probably a good area to build up a long position but keep enough dry powder for a further move lower at around 340 should this support not hold.

Trad3r_16

KIO is breaking out of a bull flag which should target around R500 as a minimum. Longer time frame (possibly weeks) there is overhead minor overhead resistance around R550 and thereafter yellow TL (resistance) should come into play at which point I would expect a pullback.

Trad3r_16

Sibanye has formed a bullish rounding bottom which, if follows through, targets around the R55 mark. Initially though, first resistance is encountered at R52.09. Alternate scenario could also be a potential cup & handle being formed, which entails a slight pullback before the next leg up.

Trad3r_16

PPC has currently broken its downtrend after a rather wobbly hold of the 2 - 2.05 region. Should we get a positive follow through, next target is around 3.55. Of course, we could see a retest before the next leg higher, but stop loss will be placed on a close below 2.20 now.

Trad3r_16 Updated 

Not for the faint of heart.. In a downtrend for sure, but has held onto 205 support and forming what looks like wedge. First hurdle to break is 2.40 - 2.45 and thereafter one could look for a bullish break of the wedge to the upside. Tight stop loss, probably on a close below 2.00

Trad3r_16

GRT has broken its downtrend and is now targeting 14.89 and 15.71. Stop loss placed on a close below 12.65.

Trad3r_16

The share traded quite strongly recently reaching around R51 before pulling back again. Currently is trading below yellow TL resistance but ideally would like to buy it for a long around 42.50 - 43.00 (TL support). Should it overshoot, a better buying opportunity could be presented around R40.

Trad3r_16

EOH broke the triangle to the downside. Filled a gap lower down at around 3.34. We could see a bounce from here now that gap has been filled, or, price could continue lower to test previous low (around 2.16). Not a pretty picture overall though.

Trad3r_16

Absa is trading in a well defined channel (upwards) and is further enhanced by by upward moving MA's. I would look to simply trade the range until we have a significant breakout of the channel - either way.

Trad3r_16 Updated 

FSR has broken its downtrend and a strong close today can possibly ensure it has also reclaimed its 200DMA. If so, first target is 71.00 with a longer term target of 77.

Trad3r_16

Sasol initially managed to find some support around R280.85 - then a strong day on Friday saw Sasol close the gap higher up and simultaneously break it downtrend. It now faces resistance at its 50DMA (R311.18) but should it rally from here and close above R320 or so, we could see Sasol run up further to its 200DMA (R350). Stop loss on a close below R280.

Trad3r_16

Glencore has broken out from an ascending triangle. 50DMA trading well above the 200DMA and both moving averages turning upwards showing nice underlying strength in the share. Stop loss below horizontal breakout.

Trad3r_16

MTN has managed to reclaim long term support (TL) but is now facing a little resistance at R133.50 - downward TL. A close above R137.59 would probably see it make a move higher towards its 200DMA. We wait for confirmation of a breakout before entering a long.

Trad3r_16

Amplats has been going sideways for a little while now, trading in a clearly defined consolidation range. Ideally we would like to see a breakout of this consolidation, with a move towards its 200DMA, around R1607,00. Of course, we never pre-empt any market, we always wait for the price to confirm a breakout, either way.

Trad3r_16

SBUX - Had punted this as a long a little while back but, unfortunately, broke down to the wrong side of the trade. Will stay out for now and revisit once technicals improve.

Trad3r_16

Breaking out. GILD has broken a long term downtrend and is now targeting $74.50

Trad3r_16

AFE forming a bullish flat top triangle. R90 is the level it needs to break through with conviction. Still trading above its 50DMA which is also positive. We wait for confirmation.