Absa
ABSA showing some downward momentumJSE:ABG is showing some downward momentum based off of the stochastic and MACD turning downwards and now the 3 and 15 EMA's crossing downwards. I am looking at a short position to at least the 11250 support level.
ABSA - Finding resistance at top of channelJSE:ABG has been trading in an upward channel since July and it seems to have found some resistance at the top of the channel. If it trades lower and fails to break through the top, I will consider a small short towards the bottom of the channel.
ABSA - Bounce or Break?JSE:ABG has been trading in an upward parallel channel since July. It has reached the bottom of the channel with quite strong bearish momentum. If it continues downwards through the bottom of the channel and makes a lower low, I will consider entering short. Conversely, it could bounce off of the bottom of the channel and head upwards as it has done a few times recently. I will consider a long position if it fails to break through the bottom of the channel.
IMPALA PLATINUM HOLDINGSI Started buying around may 2019
- i will be looking to buy more around the R9600 REGION DISCOUNTED OR PREMIUM YOU CHOOSE
- R12000 REGION ALSO LOOKS LIKE A FAIR BUY.
### TIME WILL ONLY TELL
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)
Possible reversal on ABSAJSE:ABG has broken through the downward trendline that it has been obeying since 5 June -the stochatic is also looking good for a reversal. If confirmed with tomorrow's price action, I might consider entering a long position with the target at around the 10000 level.
Bullish Engulfing pattern on ABGWith yesterday's movement JSE:ABG formed a massive engulfing candle. The stochastic has confirmed this with a move upwards through the 20 line. I will consider entering a long position if confirmed for a move up to the resistance level at the previous high.
ABSA BANK LIMITED (ABSP) SHORTABSA Bank Limited (ABSP)The walls are bloody for ABSA, which clearly shows momentum to the downside on the monthly timeframe (check out my full analysis on my instagram account @heisenberg_trader), as prices are trickling down, with momentary pauses in the form of bear flag patterns. The long term trend is clearly downwards, as prices have been forming a series of lower highs and lower lows.
Sell: When prices break below the 72 000 psychological level.
This trade will be nullified if prices drift closer to the 78 000 psychological level
Anticipating a bounce on ABSAJSE:ABG is trading at quite a strong support level. If it fails to break through and bounces off support, I will consider entering a long position. The stochastic also looks like it is gearing up for a turn.
Alternatively, if it breaks through support and forms lower lows, we could be looking at a short position.
ABSA ShortJSE:ABG formed a bearish harami a few days ago which seems to be playing out so far - looking good for a short position if confirmed.
ABSA @ SupportJSE:ABG seems to be bouncing off of a support level at the moment as well as having broken through a descending resistance. We could be looking at a long move if it confirms.
ABSA on its way upJSE:ABG has broken through a descending resistance and has confirmed the break with yesterday's action. If it breaks through the fractal from the 12th of July's candle, it could mean an upward move.
ABG out of sideways consolidationJSE:ABG has broken out of the sideways consolidation that it has been trading in. It has also broken through a fractal and is looking good for a long position.
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.
