TeslaNASDAQ:TSLA could be onto something. An upward move confirmation will be a close above $211-ish.
I saw a tweet saying that Model Y was their best-selling car in Q1 '23 but this is irrelevant to the technical setup.
Trendtraderjse
AlibabaI've been waiting for NYSE:BABA to crack on the upside and the stock has consistently disappointed. Maybe a downward move is all that is needed now.
Sygnia 4IRJSE:SYG4IR is one this week's 52-week high. That's a wide base, and the ETF is at an area of value. It may be worthwhile to consider this ETF.
ThungelaJSE:TGA has been on a downtrend and breaking below potential support levels. The stock fell ex divi, and it's now hovering near an area of value. Without support at this level, the downward movement will continue. R120?
Industrials edging higherThe JSE:STXIND is on the verge of printing a new all-time high. The ETF itself can be bought, one can also consider looking at the ETF holdings to check if the holdings are also at or moving towards buy zones.
Tree in the forest approach.
CapitecGiven the sector's weakness, it's no surprise that JSE:CPI chose the downside.
The FX:USDZAR , US regional banks, load-shedding, political uncertainty (South Africa is a political stable country but we choose to entertain the politicised media), add whatever excuse you want but the banks are weak.
DiscoveryJSE:DSY is few Rands away, ~R7, to give all the YTD gains. Hectic, but did you see the JSE:SBK chart?
JSE:STXFIN is also moving lower, at a quick pace. The sector is under pressure.
PepkorJSE:PPH new 52-week low after slicing below the distribution level at R17-ish. Retailers can't seem to catch a break these days. Steinhoff or load shedding?
MTNJSE:MTN at an area of value. Besides the potential support level, the stock has been trading "bearishly". Not expecting the support to hold, and that recent rally seems to have been a bearish flag. Technically, I wouldn't be surprised if JSE:MTN breaks below this level. But the market is full of surprises. No position.
InvestecI had previously anticipated that JSE:INP could break below the resistance level. The stock is moving in the opposite direction, invalidating the previous short idea.
A long trade can be initiated here, although it would've been ideal to buy near the breakout level, targeting the recent highs.
CapitecJSE:CPI seems to have topped in April 2022 and has been moving downwards since then. The stock enjoyed support near R1600 twice, the recent rally came to a halt as the price reached the trend line. Also, JSE:CPI is trading below declining moving averages; waiting to see how long the R1600 - R1500 level is going to hold.
Other banks are either declining or moving sideways, it's possible that the banking sector is weak.
InvestecJSE:INP consolidating above a barely existing support level. The stock is trading below a (declining)150 dMA, the support level may not hold for that long. Based on this, JSE:INP is setting up for a short trade.
Purple GroupJSE:PPE just released unaudited results; the stock took a bit of (continuous) hammering. Previously, we anticipated R1.10 as the potential support level, the stock is currently trading at that level. Technically, it's a zone to pay attention to, in anticipation of a breakdown or for buyers to step up and push the price up. This week, it'll be a combination of the results and the charts; may the best man win. No position.
What's the stock's intrinsic value, and what price are you willing to pay for the company?
BHP BillitonJSE:BHG failure to trade above R606, for now, and the potential lower high at R560 means that the stock is bearish for now. R520 potential support level can still save JSE:BHG , otherwise the stock will continue to trade lower. R520 is a level of interest for short/long.
Thungela This chart shows (my) JSE:TGA levels of interest, the price won't necessarily follow any of these anticipated moves.
The stock has to remain above R154 otherwise R120 becomes a possibility. It's a question of where are there any buyers that are willing to buy the shares at these levels and push the price up. Currently, the stock is trading below declining MAs, it's been like this YTD so it's not just an ex-divi thing.
On the far end there's valuation, what's the fair price for the stock/company. Nonetheless, the R40 dividend is juicy but at what price? I have no position.
PepkorJSE:PPH is barely hanging onto the potential support level, if it doesn't hold things can get worse for the stock. Other than that JSE:SNH is still catching strays.
BidCorpJSE:BID consolidating near the recent all-time high. A close above R411 will be a breakout confirmation and will warrant a long position with a stop below the consolidation area, preferably no more than -10%.
BitcoinPositive move on COINBASE:BTCUSD this week, on a short-term view, nice breakout. If you zoom out a bit you see potential overhead resistance. More buyers are needed to break above the resistance level. Laser eyes coming soon.
SiriusJSE:SRE Potential upward move. Relatively higher low and trading above key MAs, signs of potential change in trend. For confirmation, it may be worthwhile to wait for the price to cross above R19-ish (it's just a line on the chart, any price you fancy will work)
TNXTVC:TNX 10 year-treasury note at an area of value. We probably need it lower for a bull market to play play out. At this moment it's bearish, and hope that it's moving in the right direction to allow for a roaring bull market.
General MillsNYSE:GIS pending new all-time high. Well diversified business, ticks a couple of fundamental analysis boxes. Price action, focus on that. Perhaps this time the upside move will pan out, it failed spectacularly the last time we spoke about the stock.
Meta PlatformsNASDAQ:META has had a great Q1 2023 performance, among the top 10 best performing stocks in the US. NASDAQ:META is now at a potential overhead resistance level, hopefully there are enough buyers, and reasons to buy, to push the share price further up. As with many other US companies, there are job cuts and other cost containment measure in the Zuckerberg world.
We remain bullish until the market proves otherwise.
Monster breakoutThat NASDAQ:MNST breakout I've been eyeing for a while is here, not much volume (yet). Nothing change on price action post 2:1 split, price split adjusted accordingly. Let's see today's closing price, which is will be the weekly closing price.
