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Jubilee metal plummeting after a dangerous pattern target R1.16We saw a Breakout Falling Wedge pattern form on JBL. The price then broke above BUT did not confirm and penetrate above the 200MA. This caused a major fakeout and shakeout and caused the price to drop. Sometimes this type of move is a stronger indication of a reversal. Hence, the price has broken below the Falling Wedge and now has a target of R1.16. 200 >21>7 MA - Bearish RSI <30 - Bearish Target R1.16 LESSON LEARNT When a Breakout pattern fails and breaks below the pattern, this can confirm a major reversal and a high probability trade in the other way.
JSE:JBLShort
by Timonrosso
ATTAC going to the Attic at R10.64Large Cup and Handle formed on Attacq. It formed the Brim Level and then the price broke out of a Breakway gap into a new uptrend 7 >21>200 0 Bullish RSI>70 - Bullish Target R10.64 Breakaway gap ABOUT Attacq Limited (Founded in 2005 in Waterfall City, Midrand) is a South African-based real estate investment trust (REIT) that focuses on the development, investment, and management of real estate assets. Attacq's main focus is on developing and managing mixed-use precincts, which are large-scale developments that integrate various elements such as residential, commercial, retail, and hospitality spaces. The company's flagship development is the Waterfall City precinct, which spans over 1,000 hectares and is located between Johannesburg and Pretoria. They have a diverse portfolio of properties that includes retail centers, offices, residential properties, and industrial properties. The company operates in South Africa and other African countries such as Mauritius and Mozambique.
JSE:ATTLong
by Timonrosso
Coronation Fund in a box formation - waiting for a breakBox formation is strong with CML. We need to wait for the price to break up or down from the formation, or it can be a long sideways move. If it breaks up the target will be R46.00 My bias however is more to the bearish side. and so if the price breaks below the current uptrend line and below the box formation, it's pretty much a given. Provided that that the breakout remains and doesn't become a fakeout again. 21>7 =200 RSI<50 Will have to wait and see.
JSE:CML
by Timonrosso
Mediclinic rare formation showing upside to R135.18 with warningRising Wedge has formed with upside. This is a rare formation. Reason why it's a wedge and not a pennant is because the formation is bigger than 1 month. Above is a Rising Wedge in an uptrend. This is one of the rare formations where the price makes higher lows and higher highs - but within a consolidation after a big move up. We can either expect the price to break above and head to the next high of the target of R135.18 Or we can expect the price to break down due to bubble fears and the price will drop to the previous low (below the flag pole) at R72.24. My bias is bullish as the technicals are showing upside such as: 7>21>200 MA - Bullish RSI has formed a Falling wedge with an up flagpole. If it breaks up, it will head back to X>70 - Bulllish Target up - R135.18 ABOUT MEDICLINIC Mediclinic (Est. 1983 in SA Stellenbosch) is an international private healthcare services group with operations in South Africa, Switzerland, and the United Arab Emirates (UAE). It's listed on the London Stock Exchange, the Johannesburg Stock Exchange, and the Namibian Stock Exchange. The group has over 77 hospitals and 47 clinics, as well as a number of retail pharmacies and occupational health and wellness services. The company employs over 34,000 people worldwide. Mediclinic's largest shareholder is Remgro Limited, a South African investment company.
MLong
by Timonrosso
Transaction Capital in a strong downward range to R26.46Falling Range is a trend channel bearish 200> 7<21 Target R26.46 CONCERNS: A trend channel is never as strong as a breakout pattern. The reason is the price can move in a sideways range before it continues its down or up leg. Also the price doesn't always touch the edge of the channel. I would wait for a breakout before I decide whether to buy or sell. ABOUT: Transaction Capital (Est. 2001 in JHB SA) is a South African financial services company that provides a range of services, including debt collection, vehicle and asset financing, and insurance services. Transaction Capital has a strong presence in SA including Zimbabwe, Zambia, and Mozambique. The company's debt collection division is one of the largest in South Africa, serving both consumer and commercial clients. With their asset department they provide financing solutions for a range of assets, including vehicles, trucks, and earth-moving equipment. The company's insurance division offers a range of insurance products, including motor, household, and life insurance.
JSE:TCPShort
by Timonrosso
Redefine showing downside to R3.20 thanks to a Symm TriSymmetrical Triangle formed on Redefine. We saw the price breakout to the downside. 21>7 >200 MAs - Mixed RSI <50 Bearish divergence Target R3.20 ABOUT: Redefine Properties Limited (Est. 1980s in JHB SA) is a leading South African real estate investment trust (REIT) and one of the largest property owners and managers in South Africa. It has a diverse portfolio of properties that includes office, retail, industrial, and residential properties. The company's portfolio of properties is valued at over R100 billion and spans across South Africa and several other African countries, including Zimbabwe, Namibia, and Mozambique.
JSE:RDFShort
by Timonrosso
The Spur Group is ready to rocket to R23.96Spur Bull Box has formed and the price broke up and out of it. 7>21>200 - MA bullish RSI>50 - Bullish Target R23.96 CONCERNS: This stock is definitely NOT in my trading list. The liquidity is low, the candles volatility are high. The price jumps all over the place and doesn't show any strong signs it works with breakout patterns. Also the price patterns can move sideways for a long period of time. Maybe for an investor it's ok to hold, but with trading it won't work. ABOUT: The South African Spur Group (Established in 1967 in Cape Town) is a chain of restaurants and steak houses. With over 330 restaurants across the country, the restaurant chain is known for its western-style menu, which features a variety of steaks, burgers, Buffalo wings (love them), hot rock ribs, and salads. It's also expanded into several other African countries, including Namibia, Botswana, Zambia, and Zimbabwe.
JSE:SURLong
by Timonrosso
Standard Bank almost ready for a good buy to R200 or Goodbye Cup and Handle has clearly formed on Standard Bank. I don't like this Bearish engulfing candle that formed. The price didn't break above the brim level so we will have to be a bit patient before buying. We then have other bullish signs in the meantime. 7>21>200 - Moving Averages RSI>50 - Target R200.00 CONCERNS: Obviously we are not going to buy until we get the break. This can either go up or can crash heavily. All we can do is wait and act accordingly.
JSE:SBKLong
by Timonrosso
Adcorp showing strong downside to R2.00 then R1.64Descending Triangle and Bearish box formation has formed 200 > 21 > 7 Bearish Target R2.00 then R1.64 Bearish bias ABOUT Adcorp (Established 1983 and listed on the JSE in 1994) is a South African company that provides employment services, including temporary and permanent staffing solutions, training and development, and payroll management. Adcorp operates in several African countries, including South Africa, Namibia, Kenya, Ghana, and Zimbabwe. The company provides a range of services to a diverse range of industries, including finance, retail, construction, and healthcare.
JSE:ADRShort
by Timonrosso
DRD showing mixed signals with bullish bias - Target R15.00Uptrend channel is continuing for DRD Gold Price >200MA - Bullish 21 >7 - Bearish RSI = 50 bearish divergence. Target R15.00 Fundamentals: DRDGOLD, a company, is getting ready to release its results for the last six months of 2022. They are telling shareholders that they think their earnings per share and headline earnings per share will be between 59.5 cents and 68.1 cents per share, which is an increase of 2.6% to 17.4% compared to the same period in the previous year. The increase is mainly due to higher revenue, which went up by 6% to R2,654.3 million. OVERALL: There are mixed signals between technicals and fundamentals, but with the upward channel still intact, my bias remains more bullish.
JSE:DRDLong
by Timonrosso
Hulamin just got a sell signal to R2.25!M Formation has formed on Daily. Things have been looking very bad for Hulmain for the last year now. 200 >21> 7 - Bearish RSI <50 and bearish divergence Target R2.25 General info: Hulamin (est. 1935) is a South African aluminium rolled products manufacturer and distributor, listed on the Johannesburg Stock Exchange (JSE). They produce a wide range of aluminium products, including plate, sheet, and foil products. The company has a strong focus on innovation and has developed a number of unique and patented aluminium products. There seems to be trouble in the Aluminium space. Either there is an overcapacity, lower demand, better alternatives and higher competition or there is a shift taking place where consumers are turning more and more to renewable sources. This is going to hamper the prices further with these companies.
JSE:HLMShort
by Timonrosso