Broadening Pattern has formed with Capitec. When this pattern forms it bounces between ranges. Right now it bounced off the top of the range, and is most likely to come down 50% from the most recent rally. Once it comes down to a target of R2,400 then it could consolidate move sideways and then breakup to the next target at R2,900. This is a little...
Capitec has been in this Broadening Pattern (Vuvuzela) formation since November 2023. It breaks into higher highs and lower lows. But the overall momentum and trend channel is up. It will continue trading in this range until we get a breakout of the resistance or support. My bet is it will first trade to the top of the range at R2,485.92. Capitec has always...
We saw Capitec form a W Formation. The price broke above the neckline and then made a fakeout. Now it will be testing the uptrend support line before further upside to come. I am bullish cautiously, but we still need the demand levels to pick up. The target will then be R2,485.00
Cup and Handle has formed on Capitec's Daily chart. We've had a disappointing 12 months with banks and its downside. And today, the price opened above the Brim Level. This means, the buying and demand is more likely to take the price higher. Other indicators confirm: 7>21 - Bullish Price<200 But price is heading to the 200MA RSI>50 Target R1,853. SMC Sell...
Given the sector's weakness, it's no surprise that JSE:CPI chose the downside. The FX:USDZAR , US regional banks, load-shedding, political uncertainty (South Africa is a political stable country but we choose to entertain the politicised media), add whatever excuse you want but the banks are weak.
JSE:CPI seems to have topped in April 2022 and has been moving downwards since then. The stock enjoyed support near R1600 twice, the recent rally came to a halt as the price reached the trend line. Also, JSE:CPI is trading below declining moving averages; waiting to see how long the R1600 - R1500 level is going to hold. Other banks are either declining or...
Cup and Handle formed on Capitec since it broke above the Downtrend. Now that the price is above the brim level shows strong momentum up. Indicators also confirm upside 7>21 Price<200 but moving back to it's elastic equilibrium level RSI>50 Target R2040.00 ABOUT THE COMPANY Capitec was founded in 2001 and is headquartered in Stellenbosch, South...
We entered a long on JSE:CPI based off of the crossing of the EMA's and the turning up of the stochastic and the MACD. The trade is looking good so far with it being about a 3rd of the way to the target at 1925. It may find a bit of resistance at the current level, but I think we can potentially see a nice profit at the target if this momentum continues.
Inverse Cup and Handle formed on Capitec and the price has just been on a strong downside trend for the last year. We had a break below the brim level with indicators showing strong negative divergences. 200>21>7 RSI>50 - Mixed Target R1,528 ABOUT THE COMPANY Capitec is a South African retail bank that was founded in 2001 and is headquartered in Stellenbosch,...
JSE:CPI closing the week weak. Volume rarely matters in down moves.
JSE:CPI undercut the "few weeks" support level. JSE:CPI is also trading below declining key MAs. Bearish in my view.
JSE:CPI has formed a lower low, and its trading near an area of value. Hopefully it's not going down.
Since the last analysis, Capitec is continuing to look Bearish. It's formed another RARE formation called a Reverse Cup & Handle. This is where the handle is on the left side. Now that the price has broken below the new Brim level at R1659.23 My second target for the bank is at R944.16. Side note: All the South African banks are showing major downside to come...
I gave out a stern warning about Capitec's overvalued price. I did say that this stock will be in a crazy nosedive very soon. Price has been falling from the R2 380 highs. We are now approaching the R1 500 zone which needs to be broken. I'm loading Capitec shares very aggressively at these zones: 1. R550 2. R200 LOOK BEFORE YOU LEAP!!! INVEST WISELY!
JSE:CPI released results, good/bad/whatever, this week. The stock rallied a bit a day before the results, but the market hasn't been kind to JSE:CPI and other banks. Currently the stock is trading near R1560/share. R1530-ish once acted as an area of value, resistance turned support. Will the "support" level hold?
JSE:CPI broke below R1900-ish last week. The stock continue to show signs of weakness, if the downward move persists, the next potential support level is near R1500/share. The financial sector is still under pressure with the other banks trending lower as well.
Following last week's selloff, JSE:CPI is now trading below what looked like a support level. On the weekly time frame we still have few days too trade, the stock might still redeem itself. Otherwise the next potential support level is near R1700/share.
Minor bearish pressure on USDZAR although the macro still remains bullish