SAPPI has performed great since it broke above the Symmetrical Triangle,. The analysis was done in February, it broke above the Apex and since then has rushed to its first target at R56.60. No ways, is this worth a punt to the short side. We can now expect some sideways chop, possible pattern form and then will provide another buy signal. What is the...
Symmetrical Triangle seems to have formed on Sappi. Now on the contrary of a Symmetrical Triangle being a Continuation pattern, it is possible for a reversal to take place in this instance. We have the converging of the trendlines where the price has reached an apex. Strong buy divergences and price action to the up. It's a bit premature to BUY just yet but...
Short Formed M Formation is evident. This is a normal Double Top but the second one has a lower high than the previous. This indicates even stronger selling pressure for the company. With it broken below the neckline, the next price level it can go to is at least R20.000 Other indicators confirm: 21>7 (Bearish) Price<200 - Bearish RSI<50 (Lower...
Symmetrical Triangle formed on Sappi, the price broke below the apex and the price chose the bias of down. We had other indicators showing bearishness such us. 200>21>7 - Bearish RSI<50- Bearish Target reached at R40.60 The trend is still down and we will need the next formation to form before we decide what to do next. I'll keep you updated. ABOUT Sappi...
Symmetrical Triangle formed on Sappi. Broke below and has been coming down nicely. 200>21>7 - Bearish RSI<50- Bearish We recently had a markup phase which is where the orders are being filled from the recent drop. We need to retest the high (resistance) and price should come down. If it breaks above, it will be wise to place a stop loss and lock in profits as...
Symmetrical Triangle formed and price broke below. 200>21>7 - Bearish RSI<30 - Bearish Since then it's been swimming to the price target of R42.39. We can just wait until the trade plays out.
Symmetrical Triangle formed on Sappi. This is where a pattern moves neither up or down just sideways. We then had a break down, which confirmed the trend direction. 200>21>7 - Bearish RSI<30 - Bearish Target R42.39 INTERESTING FACTS Sappi Limited is a South African pulp and paper company founded in 1936. The company has operations in over 40 countries across...
JSE:MNP is trading near an area of value. If there are buyers, the stock may break above this level. However, there is a potential overhead resistance near R367. Is the potential reward worth the risk?
Big move in SAPPI today. Would like to see a close above 5438 and target of 7180
SAPPL @319 looking good for 370+ with SL 307 in short to mid term
SAP made a bullish reversal candle last week at a point of support (R23). Long idea will trigger if we get a break above last week highs of R24.62. Stop loss below R22.50 with 1st target at R26 and then on trail stop loss of previous week's lows.
This is not a financial advise. These are my thoughts on Sappi Long hold - Would you buy this gem ? Monthly sitting on the historical support. This is as easy as it gets. Wait for the break buy the retest. $SAP #SAP #JSESAP #SAPPI $JSESAP #JSE $JSE Goodluck Follow me on twitter @muazcoin
a trend reversal on sappi after CEO left for top job at Eskom lets see how it plays out a buy opportunity is possible
- Short IDEA has triggered again -TP and SL on chart - MANAGE YOUR RISK - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Sappi $JSESAP is approaching strong resistance. Previous support line turned resistance as well as 50 day MA will provide short term resistance but there is also a longer term downtrend that will need to be cleared at around R42 before entering a long position.
JSE:SAP has been trading in a downward channel for quite a while and has reached the bottom of the channel and seems to be bouncing off. We can expect a short upward move towards the top of the channel. This is also being confirmed by the stochastic.
JSE:SAP has broken through quite a significant fractal/support level. If it continues downward, I will enter short.