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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?
JSE:ABGShort
by Timonrosso
1
JSE Top 40 LONG analysis still in check to 85,633Look I don't care whether the market rallies or falls. We trade either way and follow the trend. But on bigger time frames, it states and shows us what is rather than what the media and Jim Cramer says. And right now, the long analysis still applies for a few reasons. 1. W Formation, broke out and now going to test support 1 (Safety line 1) 2. Price<20 but still above 200MA which states the market is in a bull market. 3. If the price breaks below the safety line 1 it could go to 68,000 before it turns up again. So all in all the analysis still has a weird up target to 85,633 on the daily chart. And the market is still up 2.40% for the year - So it's not all bad babies.
JSE:J200Long
by Timonrosso
Sasol short about to get stopped out - Ready for a swing longTrades don't always work out. The trick is to prepare for not only the stop loss to be hit but also the counter action immediately afterwards at times. So in this case, the false break below lead to a rounding bottom and following another higher rounding bottom If it breaks above, we will be stopped but the next trade will be imminent for a long position. This is how we do it as active or hyper traders :) R207.16 - New target upside
JSE:SOLLong
by Timonrosso
2
REVERSAL Idea - Capitec Bank - first down to R2400 then up 2900Broadening 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 different from breakout trading, but I was asked for an analysis around this.
JSE:CPIShort
by Timonrosso