Pan Africa showing upside to R4.16Another Penny Stock ready to rock.
Pan Africa has formed an Ascending Triangle with the break to the upside on Friday.
We can now expect the share to head to R4.16.
Bullish.
Southafrica
City Lodge looking good for upside R5.00There has been a change in the wind for City Lodge.
A small but evident Cup and Handle has formed.
7>21MA
Price is still below 200MA which is a minor concern but with the JSE and ALSI picking up and establishing a somewhat bull market, this should send the price up,
Target 1 = R5.00
MONDI PLC - BULLISH HARAMIA bullish harami pattern has formed on JSE:MNP . A bullish harami pattern is a bottom reversal signal which signals a possible long position. With this morning's movement so far, the order has triggered. We are looking to reach a target at around the 342 level.
ASPEN - ShortJSE:APN is showing downward momentum and could be ready for a short position. The stochastic, MACD and EMA's have all crossed downwards.
We are looking at a target for this trade at around the 119 support area.
JSE still heading up despite FED 75 basis points hikeAs you can see as a position trader, we don't care about short term fluctuations with what happens with the FED, Employment numbers or Earnings.
We only care about what we see in the charts and where the markets are more likely to head.
The JSE ALSI 40 upside is still intact, and we are cautiously optimistic.
BULLISH BIAS
Barloworld - heading on top of the world!Barloworld has beautifully broken above the W Formation
Showing a ton of upside to come.
The 7 >21 MA bullish. The price is above the 200MA
CONCERNS:
The 200 is still above the 7 and 21 MA but I guess with a change in trend, we will see this no longer soon.
BULLISH
Mediclinic looking healthierMediclinic has just broken out of a somewhat Rounding bottom formation.
The demand and buying has kicked in which could send this price flying, once the support is retested and confirmed for upside.
CONCERNS:
The liquidity isn't great as the candles are quite large and erratic.
Bias - Bullish.
Ninety 1 W Pattern - Bullish R49.81W Formation has formed on the daily and price has broken up and out of it.
Moving Averages are almost perfect but still below 200MA..
Target 1 - R49.81
Bullish
With the JSE on the next upleg, we can expect a number of Top 40 companies on the index to rise in the next week or two.
BRAIT straight to the moon!W Formation - breaking as we speak. One more candle above and it's systems go for this one.
Falling Wedge broken as of last week - Bullish
Price target R4.8
CONCERNS:
7 And 21 MA is still below the 200MA showing the trend is still sideways.
Bearish Engulfing on EXXA bearish engulfing candle pattern has formed on JSE:EXX . This candle pattern also coincides with the top of a downward channel that it has been trading in for the last month. We can anticipate a move towards the bottom of the channel at around the 182 level.
WHL - Bullish FlagA bullish flag formed on JSE:WHL . The breakout occurred with yesterday's strong upward momentum. If it breaks the levels formed yesterday, we will enter a long position. Target level is at 7280 which hasn't been reached since 2017. Let's see how this one pans out.
BID - LongIt has taken a while, but finally all 3 of the indicators have crossed on JSE:BID . We are looking to ride the move upwards all the way up to the resistance level at around 319.
BHG - Long position triggeredA long position has been triggered on JSE:BHG . We could see this move go all the way to the target at around the 507 level. Be mindful of the resistance level at around the 460 level.
GBPCAD Analysis?The anlysis of gbpcad we have to wait, patience and discipline #mondaymoneyday Let's Goooo!
Bullish Harami - FSRA Bullish Harami has formed on JSE:FSR which is a bottom reversal signal. It has triggered our long position and we have a target at around the 64.40 level. There is however, a gap that needs to be closed at around the 61 level. Be aware of this, as it may close the gap and come down instead of continuing upward.
Choose your loss buy or sell We are currently in a very difficult trading environment for the JSE ALSI 40 (and the stocks in the index) and I believe world wide (with most markets).
This sideways movement has been going since July 2022...
The world is in a rut with major issues like high inflation, ongoing interest hikes, currency collapses, US dollar strength, UK economic collapse, East wars and COVID recovery.
Our hands are unfortunately tied, how long this will last and what the damage will be (drawdown wise). But we will control it with lowering our losses from 2% to 1.5%. This will all be guided through a process until we overcome it...
But it's part and parcel with trading and it's something that is very common on a yearly basis...
HOWEVER! This is crucial to understand as a trader.
Since the derivative markets, the algorithm of movement (between buying and selling) has changed drastically.
From the markets moving in strong trends (70% of the time) from 1940 - 2007 where a monkey could have thrown a dart and profited from any Blue Chip stock for 20 years.
To now we are seeing the markets trend around (20% of the time, if that) from 2007 -2022.
We have no choice but to make the stop loss and take profits prices tighter and to hold for less period of time.
This will be a patience game but will be worth it in the end.
Only those strong enough to stick around and act accordingly with their correct risk management will reap the rewards.
What are your thoughts?
Dischem not feeling well - chart wise INV C&H or Descending triangle
RSI <50
Wait for the brim level break
Bearish bias
CONCERNS: The liquidity is low and high volatility which can cause the market to gap 10% on any given day. These are risky assets to trade.
SA Top 40 Index - ShortI see a bullish trend reversal and head and shoulders formation pattern taking shape.
This is supported by a stronger dollar and rolling blackouts locally, exacerbated by higher local inflation - sentiment is sour.
Will add to my TFSA lower down.
Let me know your thoughts?
MONDI Strong W FormationMARKET: Mondi ( MNP )
TYPE: Long (buy)
ENTRY: R288.42
STOP LOSS: R264.28
TAKE PROFIT: R324.76
REASON: W Formation
Breakout of medium downtrend
Moving average 7>21 - Bullish
Medium probability trade
AB Inbev - Potential LongJSE:ANH is showing signs of a potential long position based off of our momentum strategy. That means the stochastic has crossed up, the MACD has crossed up and the 3 and 15 EMA's have crossed in an upwards direction.
Bullish Engulfing on ExxaroA bullish engulfing candle pattern has formed on JSE:EXX . This is a bottom reversal signal, so we could see a move up to around the R22 level.
BTI - long triggeredA long position has been triggered on JSE:BTI based off of the turning of the MACD and the stochastic as well as the crossing of the 2 EMAs.
Mr Price ShortJSE:MRP has triggered a short position. This is based on the stochastic turning down through the 80 line, the MACD going into the negative and the crossing downwards of the two EMAs. We have placed our target down at the 166 level which coincides with the
lows of mid July.
