unclecool787

unclecool787

JSE:MTN Another trade that says in big neon letters, Don't Do This If you have a penchant for masochism, and don't see the sense in the broad, thoughtless rally in SA Inc, then note the following: - RSI at 80 is ready for a downtick - MACD, still strong, has started slowing - Momentum has stalled in the last 3 days, some long wicks on both sides of the...

unclecool787

JSE:SLM Everything says don't do it. The trend is exceptionally strong with this one. But if you have a penchant for masochism, note that: - Momentum has slowed in recent days. not faded, but slowed. - RSI @77 is ready for some normalization - MACD has slowed and started abating somewhat. Technically it looks like it's stalling in a nicely defined supply...

unclecool787

I would have thought that bearishness in the SA banking sector is a thing of the past, with earnings showing bank balance sheets & prospects to be more robust than feared in the Covid sell-off. However their consistent grind higher since call it Jun/Jul last year looks to have stalled, with the Big 4: - Showing channel breaks on their 1W charts, - All trading in...

unclecool787

Yup, on the 1D JSE:HYP chart it's all bad: - Bear channel (not bull flag!), - MACD death cross, - RSI @37 but looks like it has more to give, - Price < 5EMA < 15EMA < 200DMA. Yucky. HOWEVER, if you enjoy rolling the dice on bottom picking, consider the following: - During the peak of the Covid selloff (no vaccines, armageddon, etc) HYP was trading in a...

unclecool787

JSE:TKG Don't you love the tension when a symbol gets to this point: - MACD is at the signal line, - RSI is at call it 50, - The price is on the 5EMA which is on the 15EMA which is more or less on the 200DMA, and - It's all at the tippety point of a symmetrical triangle In its longer term trend I would've leant toward the triangle resolving upward to R50,...

unclecool787

Given the weakness in the platinum miners and resource stocks in general in the last few weeks, it takes some bravery/optimism/fondness for punishment to start nibbling at long positions. Some resource stocks, and platinum miners in particular, are tilting bullish. Same as the related idea on JSE:IMP , with JSE:NHM : - Golden cross & bullish confirmation on...

unclecool787

JSE:IMP Given the weakness in the platinum miners and resource stocks in general in the last few weeks, it takes some bravery/optimism/fondness for punishment to start nibbling at long positions. Some resource stocks, and platinum miners in particular, are tilting bullish. on JSE:IMP : - Golden cross & bullish confirmation on 1D MACD - Bullish divergence on...

unclecool787

JSE:BHP close today resting right at the neckline of a textbook H&S. I wish it were not so, as I'm positioned for a bounce, but alas resources are not giving off good vibes at the moment, not good at all :-(

unclecool787

Well, everything on the globe is being marked down, and this includes SA banks & financials, despite much improving underlying fundamentals. Prices for all of them are now under their 5EMA which is under their 15EMA. In this weak sentiment environment I'm looking for them to give back another 5% or so before bargain hunters like myself can't resist the risk. ...

unclecool787

We've seen a few false starts on JSE:FSR in the last few weeks, with positive momentum being sold into in the R52.50 area and buyers backing off. JSE:FSR on a decent run today, but will it continue to infinity & beyond or are the sellers just toying with the bulls and waiting to pounce & push it back to R50? Next R2 could go either way - up to R55 or back down...

unclecool787

JPow didn't do Gold any favours last night, and a strengthening ZAR/$ isn't helping. ANG is close to it's last line of defense @R290 ... below R290 there's nothing but air holding ANG up above R267, and in the distance beyond that R230. Could go any way from here - next R30 seems 50/50 either up to R320 or down to R260, but it's looking weak hiding under all ...