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ALSI

ALSI

Double Top on ANG JSE:ANG has formed a double top around the 52500 level. It has broken through the "dip" between the two highs, which usually is a trigger to enter a short. We could see a move all the way down to the support zone at the 31000 level.

Short

Naspers - Possible downward move coming up.JSE:NPN has been trending upward since mid-March and with today's opening, it finally broke below the trendline that has formed. Although unconfirmed as of yet, this could mean a move to the downside. I'll be keeping an eye on what happens here next week for a possible short position.

Short

Inverted H&S forming on Mondi PLC JSE:MNP is in the process of forming an inverted head and shoulders pattern on the day chart. We could see a longer term upward move if the price breaks through the neckline at around the 33100 level. This might take a few days before it breaks this level, so I am just keeping an eye on it for now.

Long

Possible Trend Reversal on Prosus JSE:PRX formed a bearish harami on Thursday last week which is a top reversal signal. This was confirmed by the break through the upward trendline and the stochastic. This could mean a move downward for a while if confirmed by breaking below the low of last Wednesday.

Short

Bearish Flag on SANLAM A bearish flag pattern has formed on JSE:SLM . If the price breaks through the bottom of the flag we could possibly see a nice downward move.

Short

GOLDFIELDS - Long in upward channel JSE:GFI has been in an upward trend since mid-March and seems to have bounced off the bottom of the upward channel. We could possibly see an upward move towards the top of the channel.

Long

Head & Shoulders on Naspers JSE:NPN has formed a head and shoulders pattern and we could be looking at a nice downward move if it continues downward through the neckline.

Short

IMP - Bullish Engulfing Just by purely looking at the charts, JSE:IMP has formed a bullish engulfing chart pattern and we could see an upward move confirmed by the stochastic. I am remaining cautious as the world markets are all majorly down this morning, so I will definitely wait for a solid confirmation before entering long.

Long

Gap to fill on ALSI If the price breaches into the gap caused by this morning's opening, we could possibly see an upward move to close the gap. The international markets are all down this morning, so I would be cautious about entering a long, but it could potentially be a nice little upward move if confirmed.

JLong

H&S Target reached and failed to confirm a break of support.JSE:MCG formed a Head & Shoulders pattern between March and December 2019, which played out nicely and reached it's target which perfectly coincided with the lowest low of 9031 from 6 March 2019. With yesterday's movement, it broke slightly lower, but retraced and failed to confirm with the close of the candle. Failing to confirm below this low could mean a possible upward move. I will wait for confirmation before entering a long position.

Long

Discovery failed to break support level JSE:DSY has failed to make lower lows on a support level formed in August last year. The Stochastic is confirming a possible change of trend as well, so I will consider entering a long position if confirmed with today's movement.

Long

Bullish Engulfing pattern on ABG With 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.

Long

SGL Channel JSE:SGL is trading in quite a strong upward parallel channel. If it fails to break through the bottom, we can expect that it will head upwards towards the top of the channel.

SLong

Possible Reversal JSE:GRT is trading at a previous support level from all the way back in December 2015. If it fails to break through this level, we could possibly see a retracement or a reversal. I will keep an eye on this one for a possible long opportunity.

Long

ALSI -J203 Retest of Breakout - ALSI has come back to retest the breakout area - Will the bulls step in? JSE:J203

J

Updated

ALSI - J203 Intraday Idea - Price tested the break yesterday and rebounded to the 61.8 fib of the last move - Looking for support here to go long again - MANAGE YOUR RISK - Disclaimer: All ideas are my opinion and should not be taken as financial advice. JSE:J203

JLong

Updated

ALSI - J203 Attempting breakout of resistance zone (4HR) - 200ma begining to point up - Bulls attempting the breakout of this resistance zone JSE:J203

JLong

ALSI - J203 Weekly We ended the week with price still within the bigger triangle, i have been trading the range. - 200ma trending upwards - Its likely that the top of the triangle will be tested - Will look to price action to see if we gonna breakout or retrace to the bottom of the pattern. - We currently in the middle of a hourly triangle. - MANAGE YOUR RISK - Disclaimer: All ideas are my opinion and should not be taken as financial advice. JSE:J203

J

Symmetrical Triangle on SBK JSE:SBK has formed a symmetrical triangle pattern and we can anticipate a strong move once it breaks out. For now, it's a neutral signal, but the move will depend on which direction the breakout occurs.

ABG - Possible bounce off support JSE:ABG is trading at quite a strong support level. If it fails to break lower, we could be in for an upward move. I will wait for confirmation of the bounce before entering long.

Long

Possible reversal on NPN JSE:NPN is trading at quite a strong resistance level at the moment. If it fails to break higher, the chances are good for a downward move. The stochastic seems to be confirming the trend reversal. As always, I will wait for confirmation before entering.

Short

ALSI J203 - First look of 2020 (hourly)- Alsi is trying attempting to break through the resistance level (red line). - A break on the hourly below Friday's close will target the gap below. JSE:J203

J

ALSI J203 - Building Shorts to target gaps below - Short trade has triggered - Targeting the gaps below - SL above HOD J20 3 - MANAGE YOUR RISK - Disclaimer: All ideas are my opinion and should not be taken as financial advice.

JShort

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