Jse
JSE ALL SHARE 40 - Bull Trap - Inverse Cup and Handle - 25 MayThe JSE ALL SHARE 40 seems to be forming two bearish patterns.
1. An Inverse Cup and Handle where the price is about to break below the brim level sending it down.
2. Bearish pennant which is tricking many traders into a bull trap.
I may be wrong and this might be the bottom but in my 2 decade career, I've learnt to go with the trend until it confirms an end.
So I am going short JSE ALSI 40 today.
Mediclinic post pandemic growth??From a technical point of view we have found support, as well as, dynamic support on the 100EMA. We also have a channel that has been respected to the upside. Fundamentally hospitals are catching up on selective surgeries post pandemic.
Break of pre-pandemic stock value could see a sustained rally to the upside. This all depends on sentiment, as well as, how well Mediclinic manages its profits.
This is a trade opportunity that should see yourself moving SL to entry as quickly as possible. Inflation woes, as well as, possible global recession, could see this trade fall flat on its face.
Adcorp Holdings LTD The technical are all explained on the chart. There is potential fundamentals to bolster the technical analysis.
Adcorp holdings JSE listed
www2.staffingindustry.com
Adcorp Holdings Ltd. (ADR:JNB), a staffing provider based in Bryanston, South Africa, on Monday reported it expects to report revenue for the fiscal year ended 28 February to be in line with prior-year revenue on a constant currency basis. However, it expects headline earnings per share to increase by at least 139% while earnings per share are expected to increase by 157%.
Its outsourcing operations in South Africa focused on exiting unprofitable contracts while its contingent business experienced robust demand in the final months of the fiscal year, offsetting weaker demand in the first months. Its training business has seen a recovery of revenue and earnings.
Adcorp did report that annual revenue was negatively affected by the exit from low-margin contract, the July KwaZulu Natal unrest in South Africa, flooding in Australia and the impact of Covid-19 in key markets.
The company expects to report earnings for the fiscal year ended 28 February on or around 30 May.
Share price and market cap
Shares in Adcorp closed up 4.55% on Monday in South Africa to ZAR 575.00 (USD 35.45); they were 28.35% above their 52-week low, according to FT.com. The company had a market cap of ZAR 577.3 million (USD 35.6 million).
WHAT NOW FOR NASDAQGood day you Great traders i am Gladly back serving you only the best of trading insights here's what I anticipate this wonderful day
Weekly we have been successfully creating lower highs and lower lows shockingly since 21 Dec 2022
Daily we got to things that happened past 2 days:
1. We have rejection and retracement up yesterday note it didn't reject a major support level or anything we just retraced up
2. Today e continued the up push towards the currently again 5 touch resistance level at price level 12800-13300
So confusing to take a decision while the daily and weekly saying two different so into the h4 going in there we checking the movement
H4 momentum to the upside is weak but we have been for the last 32hrs we have been pushing up and furthermore broke a down warding trendline connecting three touches from 13504 price range to 12077 that a resistance trendline holding over 154 528 Pips pushing down we broke it slowly today
H1 likewise we just formed a new higher high and right New York session we made a new higher low after rejecting a ranging area support
so, Information aside what now? I am still bearish biased on this market due to the weekly still being so and the fact that we are pushing up on the hour timeframes with 6 (h40 candlestick the distance the market took to move 1 day to move down tells me the bears ant's done but should create new high on the daily which will be at 12800 spot then I will change my biased be sure to comment below God bless till we meet again
NPN - the bus is leaving?I'm looking at weekly and monthly chart, waiting for breakout from downtrend. Taking conservative view so would find more comfort on breakout when price moves above 2750/2800. Plus, Chinese regulatory issues appears to be priced in.
- MACD crossover
- breaking previous support