runyamhere

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BA has tried to evade successive negative divergence, appears to be in a distribution hold. Price has also fallen out of the Pitchfork that guided the uptrend. We can expect price to begin to trend downwards, expectation would be a swift move to the downside.

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Amazon has lagged other FAANG stocks in terms of pushing high out of ICL, now it is up against multiple resistance where price was rejected before. We can expect the stock to decline following the general market trend. The rising wedge demarcated by the blue trendlines can be expected to break to the downside. NB: It must be noted that such setups can have a...

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BVT confirmed a cycle low on 31 May, however this low did not fail (did not go lower than 3 March). Looking at the RSI we can see it close to being overbought while on the chart we see price arriving at the median of the Pitchfork, these are conditions where price makes an early top or Half Cycle High before turning downwards & go decisively lower than 31 May...

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N91 has begun to put in lower highs and lower lows signaling that it is moving into a weekly low price point. The previous low weekly price is R34.58, we will watch to see if this breaks, however of most important is how price interacts with the median line of the Pitchfork, if we lose that support we can watch for a targeting of the pink support line or the 0.5...

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PPH has had a long weekly cycle, currently on week 48, the longest cycle since 2017. The share is seeking a weekly and yearly low price point. Compared to ther shares, it is quite a distance from the COVID lows, therefore those are more attractive to buyers. Looking at the chart we would invest as per the following guidelines: 1. We seek a swing low confirmation...

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Looking back in time, we see that INP favours week 22 as point to make a high price before downtrend begins, the past week marked week 22 with a shooting star candle. On the daily time frame, price is seeking to make a cycle low after which a bounce will attempt to take out recent highs. The swing high that forms after this instance is a low risk short entry on...

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Quilter $JSEQLT presented a false breakout trapping unsuspecting bulls, now the daily cycle has failed though price is within timing band for a bounce, it will not last long before price resumes downtrend. Dates of interest would be end of April/early May for long positions. Ideally price must go lower than R16.61 to present good risk/reward for longs following a...

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The USDZAR found support on the lower point of the Pitchfork & could not continue to the 200 day moving average, the expectation is price to begin trending upwards, the black and the pink lines form a parallel channel within the pitchfork, price fell out of that channel & where the black meets the pitchfork line is an interesting place for price to consolidate...

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The $DXY finds itself in an interesting zone, the coming week has the FOMC, expect volatility in the markets. With the ECB raising rates more than expected, eyes turn onto the FED. The market is angling towards a pivot or a small cut given the turmoil in the banking sector. If early week the DXY breaks the support then it will be moving towards a daily cycle low,...

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Capitec was rejected at the upper resistance, which is near the 200-day moving average, so the region can be read as double resistance. However, to confirm a bearish bias, I will be observing price pulling towards the horizontal support. We want to see price go below R1,793.14. In that case price will trend down into May/June bottom. The lower trendline and 200...

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Price for S32 has formed an inclining resistance that forms a megaphone when read with the lower support line. It has also put in reversal candles around current price level. When price forms a swing high we will have further confirmation that price is beginning to trend downwards with an objective to close the short position when price forms a swing low near or...

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On the daily time frame, Standard bank has presented with a cycle failure as price went below 17 February low, the share is in intermediate decline. Price must go below the blue trendline. But since we are anticipating a yearly low, price must also go below R140.71 (19 September 2022). If it can do that in current cycle, the green circle is an area of interest for...

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MTN has found itself in a tricky position, the cycle failed and price appears to be forming a rising wedge (bearish) with resistance encompassing the pink line, 30 day moving average and 200 day moving average. A convergence of resistance is hard to overcome, so we can expect MTN to be rejected if it gets to that point, since the cycle is already failed price will...

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MTN has been in a downtrend ever since hitting the grey trendline, it has formed a falling wedge (the pink trendlines. The intersection of the trendlines and blue horizontal support is a good spot to seek a bottom. Ideal to open a long position on the confirmation of a swing low, then scale in when price closes above the 10 week moving average and fully...

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Anglogold shows how fear trades can cause traders to be irrational, buyers are moving in at current price, there is quite a distance from 200 day moving average while price is testing the upper resistance of a broadening wedge. History does not repeat but often rhymes, ANG had a similar broadening setup from March 2020 lows that morphed into a long bearish trend....

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AngloAmerican is at trendline (monthly) support as well as the 200 week moving average, it is in week 34 & can put in a weekly low, indicators (TSI/RSI) are showing positive divergence. We will look for price to move towards the resistance line (celeste colour), closing above that would mean we have a yearly low something of low probability given economic indicators.

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BTI has hit upper blue resistance where it was rejected, price can be expected to find support around current price level, however any swing highs from then on are worthy of a short entry. The pivot that forms will guide re-entry after taking profits. If price breaks below R634.01 (29 September low) then the downtrend should persist into 2023 & gives confidence to...

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BID Corporation has ended the week with a swing high confirmation, this was week 23 of an uptrend, history favours BID to put a weekly top at this point in time. So we can expect price to trend down and break the blue trendline. RSI (14) shows it is now breaking down. Area of interest is the R340-344 level barring a market panic causing extreme moves to the downside.