ABG, dormant BO, scary weeklyABG, here's one that I didn't think I'd see so soon. Weekly looks ... frankly quite scary tbh.
Daily is strong, triggered by annual report, hourly shows only strength, $2 party anyone?
No entry yet, alert triggered on BO of 1 yr range, watching to see the structure over next weeks.
ABG
Absa showing downside to come to R120 but I am not buying it LOLOk so I am taking this analysis with a pinch of salt.
The JSE Top 40 is showing major upside to come. And yet the Banking sector is showing conflicting signals.
I mean we have an Inv Cup and Handle.
We have a strong downtrend (safety line) - confirmed
We have price<20 and 200MA - Making it a high probability short.
Everything about the system is saying SHORT But I am calling BS on this analysis.
A part of me wants to go short just for the sake of it because the system says the next target is at R120.12.
Are banks predicting a bigger short and crash than we think?
ABG - Head and ShouldersLooking for a head and shoulders pattern to form below the middle of the up channel drawn
(1) is the shoulders of the pattern
(2) is the head of the pattern
Technically price is forever bullish above the strong down channel drawn, price just needs to finish this formation
ABG shortAsbury Automotive Group Inc. operates as an automotive retailer operating franchises and dealership locations in US. The Company offers new and used vehicles, as well as financing and insurance, vehicle maintenance and repair services, replacement parts, and service contracts, also provides dealership for luxury and mid-line import brands.
My trade levels
Entry: $175.57
Take profit: $152.41
Stop loss: $188.98
ABSA Broken below Symmetrical Triangle BearishCHALLENGE TRADE IDEA:
TAKE PROFIT: R161.91
REASON: Bearish Symmetrical Triangle, Price has tested the resistance and has failed. With inflation coming out today, my cards are on higher inflation which will lead to higher interest rates and a fall in banks and other markets.
What are your thoughts?
JSE:ABG ABSA Looking for Buying ClimaxWatching ABSA's recovery from the covid lows - see posts blow from December - back to a previous resistance level around R150 we are now seeing the last push into this level. I will be watching for a buying climax (BC) on volume to get out.
SA Banks & Financials packing their bag for a short trip south 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. JSE:SBK target the R113-R115 area JSE:FSR target R48ish JSE:ABG target R116-R118 JSE:NED who knows and even JSE:CPI looks ready to retrace to the R1450 area.
Conversely stated, in the current environment the probability of these counters going up 5% is a LOT lower than them going down 5%.
In the background the fundamentals are improving - manufacturing data, bankserv transaction data, etc - so if they do dip nicely that would present a great opportunity to buy, imho. In short, take your profits and fall back :-)
Happy trading!
UC
JSE:ABG ABSA Markup The signs of strength (SoS) shown in December - see posts below - has taken some time but is now playing out. We are now looking for the markup back to previous support that should be resistance. The backup attempt after the breakout was shallow and shows strength. This week should see some action in financial stocks.
JSE:ABG ABSA Push into 2021Banking stocks have been in recovery since the covid lows and there are a number of opportunities in the back up (BU) to the previous support become resistance levels going into 2021. ABSA has been in an accumulation range since the lows and broken out and backed up to the range. The BU has been weak showing some strength. We are now looking for a break of 12000 to go long to between 14000 and 16000. At this point, we will be looking for a potential short to test the covid lows.
ABG bear flag brokenClose below previous swing lows at R80 triggers the short trade. R75 first target while R70 is full target. Stop loss will need to be trail in order to make a good R:R trade. Stop loss above R84 (previous day highs)
BOEING $287.Hello guys.
1. Saudis bought Boeing 700 million at $120. Obviously they are smarter than you.
2. Attraction to 200 EMA.
3. Golden Weekly Crossover on the MACD. Extremely bullish for the next 4 weeks.
4. I wanted to put $20,000 in Calls. Now If i did do that, it would be worth $150,000 right now....
History: When boeing was $120, I wanted to purchase $210c 07/17 for .22 each. Now they are worth 1.69 each. Thats a ridiculous return on investment.
Now obviously, I only put in 1.5k so if this trade works in my favor (which it will) I will walk away with $87,000. Thank you
5. If you were to ask me for a date, I say Donald Pump's birthday, June 14.
ABSA ShortJSE:ABG has broken out of the symmetrical triangle pattern that had formed.
Today it seems to be retracing a bit and you might find that it will bounce off the resistance before continuing downwards.
Depending on your risk appetite, you can enter a short right away or wait for a retracement and bounce before entering.
ABG - Bullish EngulfingWe have entered a long position on JSE:ABG because of a bullish ngulfing pattern tht has formed.
Although there is not much history on this instrument, it is also at a support level which solidifies the signal.
