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Southafrica

Cup & Handle on MTNA Cup and Handle pattern has formed on JSE:MTN . The Cup with Handle is a bullish continuation pattern and as its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance. I will look to enter long if it breaks above the high of 11 Nov with a optimistic target at the resistance around the 8800 level.
JSE:MTNLong
by RossLarter
1
Sasol- New Chart Work with some changes... Update 1 Hey everyone... We end the week with Sasol hitting R72 and R122 in one week and as of writing is at R105, We have seen a jump from R91 to R112 in less than an hour. What a long a interesting week for the markets and Sasol... I have just posted a revision of my one chart, I will explain it through updates during the week. I just wanted to end the week of with as much foresight on Sasol as possible. Please share and ask questions... As mentioned above Detailed Explanation of the Analysis will follow, please like and share if possible and would really appreciate a follow and a comment and I promise to get back to you. Kind Regards Rudi Roelofse
JSE:SOLLong
by rudiroelofse
9
Sasols big break still ahead ... A few more times will add to this analysis tomorrow, I'm also looking for just some stability but for now here is some of my charts. What I tried to show with the USOIL and USDZAR is that both of them benefits Sasol the higher they are. However the news of the vaccine shot up oil future and the markets overall. Along with the election and the Vaccine news 1) The rand strengthened to its best since Covid started, to the dollar , 2) The Oil future rose by almost 10% So we know and saw what the effect of people being uncertain has on some stocks and how even the slightest news can ease their concerns and we see stocks rocket like we did. As always the sellers were waiting for just their moment but looking at the chart the high sell off did not last very long and the number of shares shows to more institutional traders who took profit looking at DOM while the action was happening. Getting back to my chart of the US OIL and USDZAR, We see them diverge, normally people are more reactive on USDZAR value but it looks like others news have taken over for now. So we are sitting with a much better oil price than a while back, the USDZAR has already started moving in the other direction. If the Oil price could meet the USDZAR up higher as not only analysis but even looking over the last few days clearly shows is on its way again, then we are clear for a really new target. For those sad of todays or yesterdays losses...Relax some of us have been on the Sasol train for ages and markets. Remember that Moderna, Regenatron and many more vaccines will be announced over the next month or two, expect another breakout to happen more than once...just be ready at any second. I have personally set my take profit to R133 and stop loss to R79. Will update on the full charts tomorrow or as soon as possible. Tomorrow is quite important in seeing the short term to medium term trajectory. Rudi Roelofse
JSE:SOLLong
by rudiroelofse
6
Massive H&S Pattern on ANGJSE:ANG has formed a massive Head and Shoulders chart pattern starting all the way back in April 2020. The right shoulder is not very big in relation to the left shoulder, and the uptrend leading up to the formation wasn't extremely significant, so I wouldn't be surprised if it doesn't make it all the way to it's target but I think we could definitely see a downward move to the previous significant support level at around 30000 if it breaks through the neckline and confirms the pattern. If it breaks through the support level at 30000, we could possibly see a move down to the target, but I feel that is quite unlikely.
JSE:ANGShort
by RossLarter
2