runyamhere

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Walmart had a failed daily cycle 3, currently price is seeking a half cycle high. The blue line defines weekly price decline resistance, when price closes above this line on a weekly basis we know a weekly low is behind and price is moving higher. There is a possibility price will decline towards the 200 week moving average but before that we want to see how it...

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Adobe has an interesting megaphone pattern, the support line would need a third touch to make it valid. On the daily cycle price is yet to fail, this it will do if price goes below R503.90, that will really get the selling going as stop-losses are triggered. The bear scenario has higher confidence given that the share is in week 30 of an uptrend and should be...

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Spar Group rallied after a failed daily cycle 2, as is we are looking at a very short weekly cycle unless current cycle breaks back below R96.40, not entirely unthinkable given the following: 1. The move up saw declining volume. 2. The RSI & TSI have shown negative divergence. 3. RSI is overbought, failed breakouts on overbought conditions usually lead to quick...

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The DXY is in intermediate decline, the previous intermediate cycle was very short so much that it caught the markets off guard. The current is in week 23, looking into history of intermediate cycles, there are few where a cycle was between 20 to 28 weeks. Things to consider in this cycle: 1. Price lost the 0.618 fib retracement & recovered it. 2. A short bounce...

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Absa is now in a failed daily cycle, price therefore is seeking a weekly low price in lower highs and lower lows formation. Currently price is due a weak bounce before continuing further downside. Curious is whether price will go lower than 8 May low, I place this at higher probability as price also pursues a yearly low price. We can look at the median line of the...

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Sanlam has a beautiful down channel which has another channel within the bigger channel. The share is seeking a yearly low price. The area it is approaching has a confluence of support where downtrend was halted before as shown by horizontal black lines. How to approach the trade: 1. Watch for price to make a swing low (on daily chart), watching to see reaction...

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Sasol is in week 19 of a weekly cycle, it has wasted precious time in a ranging price action. Here we see price is facing resistance of the 30 week moving average while supported by the 200 week moving average. Price is caught in a triangle that can break either way, however because of time we can be expecting the cycle to be looking for a top. Curiously the...

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DRD broke out of the broadening channel trapping many shorts, price rose sharply but then reversed sharply, classic action of price fueled by short covering. Now price presents with a failed daily cycle, the current uptrend can be expected to be halted at the resistance of the broadening wedge then turn down lower than recent lows to the median line of the...

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Kumba is back against a resistance that has rejected price now for the third time, we ended the week with an evening star candle formation. We can see the triple top that is likely forming. The 200 day moving average is just below but the overbought indicators warn us that we will not find strong enough support there. We have higher confidence in price reversing...

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Aspen confirmed a weekly after finding support at the 200 week moving average, now price is seeking a half cycle high. On the RSI we can see it reaching an overbought level with TSI stretched to the upside, we can expect a pullback from here while price seeks to cool off the indicators before seeking to breakout from the purple Pitchfork resistance. It is also...

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Anglo American has closed above the green line and the 10 week moving average, price is now seeking a cycle low defined by the blue upslopping line. Price going below this line signifies a daily cycle low. The challenge is that the line is rather flat so we must look out for price going lower than R471.64, this would reset the weekly low. A close above the pink...

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ANH recent price action had price going below 12 June 2023 price, this represent a failed weekly cycle signalling that price is ready to decline into a yearly low price. We see price being rejected at the upper resistance. It is important to note that we have a pennant that is near resolution, it can break either way, if to the upside this can give short sellers a...

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PRX has carved a nice broadening wedge that has forced price into lower highs and lower lows. Price is currently seeking a half cycle correction after which it must challenge resistance again. If there is a rejection on the resistance we can expect a sharp move down (can go straight down also), ideally that should have an objective of the lower support line,...

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Kumba Iron Ore has managed to tick most conditions set in October 2022 (see linked idea). We are now approaching the green line while the $DXY is looking to put a reversal. We will be looking at price interaction with the green resistance line. We might see a pullback right below the line which can appear to be consolidation. However some profits can be harvested...

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Bitcoin is in week 21 of a weekly cycle, this is a point where price usually finds a top. The indicators are stretched in an overbought territory, recent rallies higher have only built negative divergence on RSI and TSI, price is facing rejection at 0.618 fib level of the Pitchfork. Another interesting thing to note is that in bitcoin rally we need to see bitcoin...

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Sibanye came in with not so good earnings causing price to capitulate, in that process it went lower than R28.60 (21 August price), this represents a cycle failure early into another daily cycle that must lead to a yearly low. We can get a rally from buyers perceiving R28 level as a good buy how since the cycle is failed we can expect price to eventually trend...

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Sibanye-Stillwater price has been guided by the green resistance and support, now reaching a convergence of these lines, the support line intersects with pink upsloping support of broadening wedge. Previously this support has propelled price to upper resistance, this would mean Sibanye setting new highs. There is a risk of price falling out of the tight...

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Aspen is now in week 24 of a weekly cycle, this is a favourite spot to reach a top, we ended the week with a swing high confirmation. The next task is moving down and closing below the upslopping trendline. The red arrow shows the likely path the share is going to follow on the way down. The 200 week moving average will be a good place to look for a weekly low and...