Bearish Harami signaling a down move on FSRA Bearish Harami pattern formed on Friday on JSE:FSR . With today's move so far, we have been entered into a short position.
Jse
Bearish Engulfing on VODA bearish engulfing candle formed on JSE:VOD on Friday last week. We have entered a short position on this one with today's price action so far.
AFRUCAN RAINBOW CAPITALAfrican Rainbow Capital a possible bounce on the zone if fundamentals could align with price action
Bullish Engulfing Candle on WHLA Bullish engulfing candle has formed on JSE:WHL at a strong support level. This is a good bullish reversal signal which is looking good for a long position.
MURRAY ROBERTSMurray Roberts broke out of the box range the move was not complete it had to come back to re test so that the bullish upside move to the upside
Sasol LimitedSasol has had an incredible run over the last year and has been in a clear uptrend, higher lows and higher highs each time.
There are no signs of this abating, although fundamentals should be considered.
I believe that if the oil price stays elevated, sentiment will continue to drive this share higher where it could close the gap from May 2019, closing that gap back up to R425
If this is the case, then we can expect an additional 30% upside from current levels.
I will start nibbling at current levels and will accumulate dips.
My new exit price will be R425 ( 29% upside)
My stop loss price will be at R250 ( 24% downside)
This is just looking at the technical side of things and is not taking the fundamentals into account. We mustn't forget that Sasol hedged their oil price last year, as well as the USD/ZAR exchange rate, so higher oil prices doesn't necessarily equate to bigger profits. This means that at some point the price will reflect the fundamentals, but at the moment I believe it is sentiment driven and will continue to be as long as we have these dark clouds surrounding Russia and Ukraine and the price of oil.
SASOLsasol an incredible bounce back from the march 23 low of 2020 we might see sasol coming and going as high as its all time high
JSE:EOH - Potential complete pullbackJSE:EOH looks to have completed its pullback from its previous move up. Price rejected the 61.8% Fib retracement level and has bounced off the intersection of previous trendlines confluenced with the 50% retracement level. Should this be the start of the next move up, a potential target could be the measured move of the previous leg up bringing a target of 960 - 970. The break of the 770 resistance will add to the momentum pointing higher.
*Disclaimer* Purely an analysis and opinion, this does not constitute financial advice.
Steinhoff - Long - 21 January 2022Look who seems to be making a come-back - Steinhoff
First target around R6.43 due to a Rounding Bottom
Old Mutual potential shortMomentum is down on JSE:OMU . If it continues downwards, I will enter a short position. I think we could see it go down towards the 1200 support level.
Double Top on RichemontA double top pattern has formed on JSE:CFR and it looks like it might be continuing downward. If it breaks through the low formed on 20 December 2021, the pattern will be confirmed and I think we could see a move downwards towards the 19000 support level. If it fails to break through the level, we could also see a bounce upwards.
Discovery - Inverted Head & ShouldersAn inverted Head and Shoulders pattern has formed on JSE:DSY if it breaks through the neckline, we could see a ove towards the target and resistance level at around 180000
Goldfields with some downward momentumJSE:GFI is showing some nice downward momentum based off of the stochastic, MACD and the two EMAs all signaling. If it breaks lower, we can potentially see a move down towards at least the 14500 level and if it breaks through that level, we could see it move even further down to the 12000 level.
Bitcoin Buyside area, Road to 100kRoad to 100k
I am currently waiting for bitcoin to get to 30k, before i average in again, my projections is for the coin to go touch the 100k mark before we have a big reversal, so a move down to the July 2021 lows looks like a good area of support or demand for the coin to go to the upside.
I expect price to form good reversal pattern when it gets to the lows inside the indicated block before it starts its journey upwards, but if price gets into that area we must averaging in until true confirmation has been made.
|Steinhoff forecast| Price expectationI am expecting price to give us a bit of a relive so that we can pump again
