Short Drop - Bounce BackBearish in short run -to bonce back to around 113 - 114.
Period from: Feb 5 - Sept 20th
Why: When looking at the six month chart it waffles before trending upward or downward. The waffles have become larger. By placing indicators at the end of large buys and sells, this gives you a range of how far the next break out is going to go.
SAP
Looking at a short position on SAPJSE:SAP formed a bearish engulfing candle pattern yesterday which could signal a reversal. This seems to be whats happening at the moment.
For the lat couple of months it has been making lower lows quit regularly. If the price breaks through the latest lower low from the 16th of Jan, I will consider entering a short position.
SaP500 Continue as expected, Is trendline strongh enough ? SaP Continued and reached expected trendline, even dropped below. Now we will probably see small retracement and its still not sure if we almost finished ABC 3-3-5 correction (5th wave still need to be finished) or it was only Wave A) and wave B is comming in next week or so.
You'll be happy with Sappi at R80.00Interesting observation on Sappi (SAP.JSE). The bottom of the range coincides (almost) with the 200 day moving average. Becomes a STRONG buy at R80.00. buying here makes it easy to place your stop loss as a breach of the 200 day moving average would signal a bearish break lower. Take profit level is the top of the sideways channel.