Counter-Trend Masochism, Part 1 JSE:SLM Everything says don't do it. The trend is exceptionally strong with this one. But if you have a penchant for masochism, note that:
- Momentum has slowed in recent days. not faded, but slowed.
- RSI @77 is ready for some normalization
- MACD has slowed and started abating somewhat.
Technically it looks like it's stalling in a nicely defined supply zone of R59.90 to R60.84.
Nicely defined stop around R63.00 (although you have to scratch back some time to find it)
I'm shorting at or around R60.50, target R54.10 stop R63.02. However don't bet the farm.
SLM
Smooth Love Potion testing support at $0.0667, lower prices possSmooth Love Potion token, popularly known as the SLP token, is one of the most sought-after coins in the 2.6 trillion dollars crypto market. SLP price analysis is sluggish for today, with data from CoinmarketCap showing a 26.16% drop in the trading volume of the token.
On the other hand, the price has action has been quite bearish for the past two months, with a 50.39% drop in August followed by 44.94% in September. For a long-term look at the price analysis of SLP, visit our Price Predictions section.
SA Banks & Financials packing their bag for a short trip south Well, everything on the globe is being marked down, and this includes SA banks & financials, despite much improving underlying fundamentals.
Prices for all of them are now under their 5EMA which is under their 15EMA. In this weak sentiment environment I'm looking for them to give back another 5% or so before bargain hunters like myself can't resist the risk. JSE:SBK target the R113-R115 area JSE:FSR target R48ish JSE:ABG target R116-R118 JSE:NED who knows and even JSE:CPI looks ready to retrace to the R1450 area.
Conversely stated, in the current environment the probability of these counters going up 5% is a LOT lower than them going down 5%.
In the background the fundamentals are improving - manufacturing data, bankserv transaction data, etc - so if they do dip nicely that would present a great opportunity to buy, imho. In short, take your profits and fall back :-)
Happy trading!
UC
US Stock In Play: $SLM (SLM Corporation)$SLM gained a further +5.17%, via a second display of Open Drive price action behavior within the last 10 trading session. Since the start of 2021, $SLM have accumulated a total gain of +43.10%, with majority of the gains effected from the rebound back above its 20DMA on 28th January 2021 onwards.
With $SLM already broken out of its uptrend channel convincingly this morning with a new 52-weeks high, further immediate upside may be expected as current implied volatility ($0.42/day) of $SLM remains below its 2 months ATR peak at $0.58/day.
The next significant price resistance level for $SLM is at $22.00, 27.35% away from its latest closing price.
$SLM, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States.
$JSESLM forming a bearish rising wedge formationSanlam has spent the last couple of weeks consolidating in the form of a bearish rising wedge formation. The move higher off the lows has appeared on lower volume which gives bulls little confidence in this move. Should we manage to see a convincing close below the rising wedge at +- R56.00, this rising wedge could play out with a downside target of R41.50. What is also interesting to note is that the stock has battled to make any progress above the declining 50 day moving average (purple line) which has been respected by the market. Keep a close eye here as the target is quite rewarding should this pattern play out in textbook fashion.
Expecting a reversal soonThe Sanlam Group is one of the largest established financial services groups in South Africa. Established in 1918, the group demutualised in 1998 and Sanlam Ltd then listed on the JSE Ltd. and the Namibian Stock Exchange. The group has business interests elsewhere in Africa, Europe, United Kingdom, India, the USA and Australia.
Daily: We can see an impulse move on the left of the chart from the high and there is currently a corrective structure formation taking place. I believe that we are very near the reversal point which will indicate the end of wave 3 and the start of wave 4 to the bottom of the structure. From that point I will need to see either a confirmation of a reversal for wave 5 before the big move to the downside or alternatively a break of the structure at the bottom of wave 4. I will be watching lower time frames for confirmation of the breaks or reversals.
DSKX Begins To Rally After The Conference CallShares of DSKX continues to rally from last week after they held a conference call to discuss the recently announced agreement to acquire Radiancy, Inc., a leading developer of consumer medical devices and the Neova® dermatological products.
It appears investors are beginning to notice the financial value this new deal brings and the future outlook of the company, so if you haven't already, I highly encourage you to listen to today's conference call as soon as possible. Much larger company structure overall, significant increase in revenue, assets, cash flow and working capital with a very reputable management team to move the company forward. The fact that the current market cap is only 33M is what really gets me excited. Listen to the call to learn more:
The replay of the conference call can be heard by dialing 1-888-286-8010 in the United States and Canada or +1-617-801-6888 internationally, then referencing the Conference Passcode "56187013" A recording of the call can also be heard on the company website.
In the call, the DS Healthcare Group management team shared their motivations and answered questions relating to the business fundamentals on the Radiancy & Neova® deal, explaining how natural strategy alignment and synergies will lead to significant bottom line contribution.
The call was hosted by Mark Brockelman (CFO), Manny Gonzeles (CCO) and Renee Barch-Niles (CEO) and took place on Thursday, February 25th, 2016, at 8:30 a.m. EST.
-Renee Barch-Niles (CEO), an experienced CPG Executive who drove double-digit year-over-year growth in global food, drug, mass, club and specialty channels for Global companies such as Daymon Worldwide and Emilia Personal Care.
-Mark Brockelman (CFO) who has great experience in mergers and acquisitions, systems integration expertise and highly astute financial acumen. Mr. Brockelman Brockelman served as the Chief Financial Officer for National Dentex Corporation as well as the Senior Vice President/Chief Financial and Administrative Officer of the Miami Dolphins.
-Manny Gonzalez (CCO), a former top (NASDAQ: PG) Procter & Gamble executive managing a team of 7,000 sales representatives in the U.S., who has direct access to every major retailer in the country.
Acquisition Press Release Below:
finance.yahoo.com
For full disclose please visit: www.stockpicksnyc.com
SLM long term holdingBeen accumulating SLM. Adding at today's open. Sallie Mae is the ONLY govt sponsored Biz Entity to be almost unscathed during the 2008-2010 debacle that bought down FNM- Fannie Mae ; and FNM- Freddie Mac. Per share dividend yield is 6%. Cd's and Govt Bonds are paying much less. If you're patient and want to hold to 5 years - Look for $ 24/ per share and 8% per year in dividends 48 months out. Trade Plan: long $10.25 stop $9.20, look for next p/back to add (if not currently invested).