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ALSI

Short on Anglo AmericanJSE:AMS has reached a resistance level just above the 83000 level. It reached this high on the 22nd of March bu then retraced all the way down to the 72000 level. Before this, the last time it reached these levels was in April 2010. My thoughts are that it is going to retrace downwards again and I am looking for a move back down to the 72000 level. If it does break through the previous high, we can see a move towards the 90000 area. But my bet is on a short.
JSE:AMSShort
by RossLarter
Sideways channel on BidvestJSE:BVT is trading in a sideways channel and has been since mid-November last year. It has reached the top of the channel and will most likely bounce on the resistance and continue downwards. I will enter a short around the 21600 level if it goes down. Our target level will be the bottom of the channel around the 19000 level, which is also a significant level because round numbers tend to act like magnets for the price action. If it fails to bounce off and breaks through the resistance, I will consider entering a long position.
JSE:BVTShort
by RossLarter
Gap to close on ANGJSE:ANG has formed a bearish harami which is a strong reversal signal. This could signify a change of direction to a downward move. There is also a gap to close that formed on the 20th of Feb. Gaps tend to act as magnets for the price and like to be closed. I have entered a short position and will look to close either once the gap has been closed or further down at 18000. The 18000 level is quite a significant support level, so I wouldn't be surprised if it went down to that level.
JSE:ANGShort
by RossLarter
Cup and Handle Trade on INL & INPJSE:INL has formed a Cup and Handle pattern which is a bullish continuation pattern. "As its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance." (from Stockcharts.com) I have entered a long position on today's price action as it has broken through the level at the top of the cup. To establish the target, I have measured the depth of the cup and extrapolated it upwards which goes all the way to the next resistance level. THE EXACT SAME STRATEGY CAN BE APPLIED OT JSE:INP
JSE:INLLong
by RossLarter