Jse_top40
Steinhoff is not a Steinway that's for sure!BEARISH
4 Hour
Box Formation - Consolidation
Break below and target R1.00
ETO a Penny to NOT drop in the next few monthsA distorted but form of Cup & Handle has formed in the 4 hour chart...
The price has broken up and above the Brim Level as of in the last couple of weeks.
It's now showing strong upward momentum to come with the 1st target to 75 cents...
Also we have a gap that is ready to close (hence more bullish signals).
BULLISH!
Harmony is looking good for upside but there is a warningHarmony is looking bullish for upside. There are a few hurdles. 1. Needs to break above the medium term downtrend. 2. Needs to break above the 200MA...
3. There is a gap which needs to close.
However, momentum according to price action does look up so the chances are quite positive for upside..
SASOL SELL Box Formation 13 SeptemberSasol broke below the Rectangle (Bearish) formation...
It looks like there is a lot of downside to come for the stock as well as oil...
The next support is based on the last years 12 September 2021 level at R245.00
That's where Sasol has a good chance of reaching.
Thoughts?
More downside for the JSE ALSI40 - INV C and H - 15 JUly 2022The breakout hasn't been a strong one to the downside, but it's still below the current support (which has become a resistance).
If a catalyst breaks out to send the markets further down, we could see 50,000 on the cards...
What do you think?
Trade well, live free.
Timon Rossolimos
Founder, MATI Trader
JSE ALSI 40 - Short - Inverse Cup and Handle Technically an Inverse Cup and Handle has presented itself.
The breakout below the brim level is still quite a weak breakout, but the stop loss is quite wide to give leeway.
Fundamentally, Inflationary measures and rising interest rates are going to have a ripple effect around the world. The JSE will also following leading markets, which will bring it down. I'm going short...
What do you think?
Kind regards,
Timon Rossolimos
CEO, MATI Trader