ZAR
AGL - Upward Momentum BuildingAfter a nice downward trade, JSE:AGL seems to be reversing for an upward move. Our momentum indicators, the MACD, Stochastic and 3 & 15 EMA's are all confirming this possible move.
I will be looking at 60000 resistance level for a target.
GLN short if it breaks through supportThe MACD and Stochastic indicators on JSE:GLN are both signaling a downward move. However, it is currently trading around a support level (+-5800) and I will be inclined to wait for it to break through that level before entering short. If it does play out, we could see a move to at least the support level of around 4900.
ARI Reversal possibilityJSE:ARI has reached a level of resistance and seems to be turning downwards for a short move. It has been confirmed by the stochastic, MACD and 3&15 EMAs. If the move happens, we might see it go down towards the 200SMA where it might find some support before either bouncing upwards or continuing downwards.
Clicks Bounce off SupportJSE:CLS failed to make lower lows and bounced off the support level instead. It looks like we might be looking at a move upwards. All of the indicators in our Momentum Strategy have turned upwards indicating a long position.
Short on CLS if breaks out of channelAlthough it is trading in a channel, JSE:CLS is showing some downward momentum. It may very well bounce up off of the bottom of the channel, but if it breaks through, I will enter a short position. Beware of the 200SMA, though, that may act as a support level.
Ascending Triangle Breakout on CFRAn ascending triangle chart pattern has been forming on JSE:CFR since early Jan. It is currently breaking out of the top of the triangle. If it confirms, this could be a good sign for a long position.
ABSA showing some downward momentumJSE:ABG is showing some downward momentum based off of the stochastic and MACD turning downwards and now the 3 and 15 EMA's crossing downwards. I am looking at a short position to at least the 11250 support level.
EXX going shortJSE:EXX is showing signs of a potential short trade coming up. The first signs came with the stochastic and MACD crossing downwards, and it has been confirmed by the downward cross of the 3 and 15 EMA's.
I see it potentially moving down to around the 15000 support level, where it may retrace before potentially continuing downwards. Let's see what happens.
Keep watching for possible short positionAlthough not confirmed yet, JSE:RNI is looking like we could be in for a downward move sometime soon. The MACD and EMA's are yet to confirm to the move, but the price has broken through the 200SMA which could indicate a change of trend. Keep an eye on this for confirmation of a short position.
KIO - Failed to break higherJSE:KIO seems to have failed to make higher highs around the resistance level of 66000. It also formed a shooting star reversal pattern two days ago. This, coupled with the turning down of the stochastic indicator could mean we are in for a downward move.
Bearish Engulfing at ResistanceA Bearish engulfing candle formed on JSE:SHP on 17 Feb. This was followed by a cross of the EMA's and the MACD. All of these indicate a change of momentum and we could be seeing a move to the downside. There is a gap that formed in September last year that we ight be looking to fill, failing that, it might find some support at the top of the gap.
Sell idea GBPAUDXAU/GBP is on the rise. Weighing down on the pound against commodity driven markerts like the Ozzy, the KIWI, Looney and ZAR.
Look to sell to the demand zone at 1.74624
At the moment, we are in a strong impulse wave (down) and we expect a pullback to the upside. Giving us an opportunity on TUES 23rd FEB 2021 to catch it at a discount.
Watch how candles close between 1,78163 & 1.77856
Reversal for 30%Recently we witnessed the price breach a descending trend-line looking similar to an inverse head and shoulders.
Target is the resistance approximating 30%.
Good luck and follow me for more!
Bullish continuation Here we see KAL's descending channel breakout accompanied by an ABC correction. A little late on this one but aiming for the target at the previous high for a 70% estimated appreciation.
Good luck and follow me for more!
DSY Changing MomentumIt looks like there is a change in direction on the cards for JSE:DSY . Although not confirmed yet, it is looking like it's only a matter of time before the MACD and the EMA's confirm the downward move along with the stochastic.
BID - Strong resistance levelJSE:BID is trading at a very strong resistance that has been held and tested multiple times since 2016. My logic tells me it won't be able to break through and will bounce down again. If it does this and comes down, I will consider a short at the 27700 level. Alternatively, If it breaks through and continues up, we will likely see a nice strong breakout to the upside.
PEPKOR struggling at historic resistanceJSE:PPH is currently struggling to break through a resistance level that goes all the way back to December 2017. If it doesn't break through and goes down, I will wait for it to break through the support level of around 1450 before entering short.
USDZAR Opportunity Coming - Entering into buying zone - USD RANDUSDZAR Opportunity Coming - Entering into buying zone - USD RAND
Triangle Breakout on NEDJSE:NED is currently breaking through the bottom of a triangle chart pattern. I will wait for confirmation on the close of current candle, but if confirmed, we could be looking at a downward move towards the support area around 10000
SANLAM finding support on the 200 moving average.JSE:SLM broke the downward trend that it was trading in since July 2020 when it formed higher highs in early November 2020. Since then, it has been consolidating and has found significant support on the 200 Moving Average. I will wait for a breakout of the consolidation zone, and if it breaks through the 6000 level, I will consider a long position.
Downward momentum on SibanyeJSE:SSW is showing signs of downward momentum. The stochastic and MACD has crossed down and the 2 EMA's have crossed. It is also busy breaking through a strong support level at around 5800. If it breaks through convincingly with today's price action, I will consider a short position.
Beware of a possible gap close of the gap formed 2 days ago. It may go up and close this gap before continuing downward.
