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ZAR

ZAR

MNP - Heading back into channel I recently posted an idea for a short on JSE:MNP and it went in our favour for a few days, but didn't last long. In the meantime, it has formed a bullish engulfing candle and has retraced all the way to the bottom of the channel again. It may find some resistance before entering the channel again but if it breaks through, we could see an upward move towards the top of the channel.

Long

Kumba - Double Bottom JSE:KIO has formed a double bottom with the last couple of days' movement. A doji formed on the 29th of October followed by a hammer candle which can be both seen as reversal signs. The double bottom, candle patterns, MACD and stochastic are all pointing upwards, so I will consider a long position if it trades higher.

Long

NPN - Triangle breakout within parallel channel JSE:NPN has broken out of the bottom of a triangle pattern, moving in a downward direction. Along with this, it has been trading within a parallel channel since mid-July and it has bounced off the top of the channel which could serve as confirmation for a short position. If it continues with this downward momentum, I will enter short with a target at the bottom of the channel.

Short

Updated

MNP - out of upward trend JSE:MNP has broken out through the bottom of an upward channel that it has been trading in since the end of April. My expectation in a previous idea is that it would bounce off the bottom of the channel and return upwards, but it has, in fact, broken through and is on its way down. It is currently on a support level and if it breaks through, I will consider a short position.

Short

Updated

RNI - Large Bullish Engulfing Candle I alerted a short possibility on JSE:RNI on the 21st of October with this idea - , and although it went in that direction for a couple of days, a doji formed followed by a strong bullish engulfing candle which could possibly be signaling a long position. If it breaks higher than today's price action so far, I will consider entering long.

Long

REINET with some strong downward momentum JSE:RNI has been showing some strong bearish momentum the past couple of days and if it breaks through the support level that it is currently pushing through, I will consider a short position towards the lows of the initial COVID-19 lockdown around mid March.

Short

Updated

ASPEN - strong upward move JSE:APN is showing great signs of a potential upswing. The stochastic, MACD and Exponential Moving Averages are all confirming this move.

Long

IMP - Double Bottom JSE:IMP is showing signs of a reversal to the up side due to the double bottom that has formed. After a successful short position, it has bounced off of support and looks like it will be heading up towards resistance at around the 17500 level.

Long

NHM - Showing some upward momentum JSE:NHM formed a doji candle at a support level two days ago and is looking like it is heading upwards with some momentum. If it continues upwards, I will consider a long position with a potential target just above the 19000 level.

NLong

EURZAR SWING IDEA an obvious big retest on EURZAR

Long

Double Top on Impala After a successful long position, JSE:IMP has bounced off resistance to form a double top. I think we can look forward to a downward move down to the support level around the 14200 level.

Short

Updated

Short on AMS JSE:AMS is showing strong downward signals and we could be looking at a move down to the support area at around 110000. The stochastic, MACD, and the two EMAs are all confirming this downward momentum.

Short

Updated

ABSA - Bounce or Break?JSE:ABG has been trading in an upward parallel channel since July. It has reached the bottom of the channel with quite strong bearish momentum. If it continues downwards through the bottom of the channel and makes a lower low, I will consider entering short. Conversely, it could bounce off of the bottom of the channel and head upwards as it has done a few times recently. I will consider a long position if it fails to break through the bottom of the channel.

OMU Break of downward trend JSE:OMU was trading in a downward trend but has recently broken through the trend line, come back down to test it as support and seems to be moving upwards again. I will wait for a confirmation above the 1100 level before entering a long position.

Long

Updated

USD/ZAR Monthly Buy After big breakout, price has pull back / consolidated for 6 months and is now testing moving average. Long @ market with stop at 15.74 and target of 19

Long

Head & Shoulder Pattern for CFR A nice Head & Shoulders pattern has appeared on JSE:CFR and with today's movement, it has broken through the neckline. If it continues to play out and head downwards, we could see a move all the way down to the 9400 level.

Short

Channel on MNP JSE:MNP has been trading in a parallel channel since mid April and it seems to be heading toward the bottom of the channel for a possible bounce upward. If it fails to break through the bottom of the channel and bounces off support, I will consider entering a long position on the move up to the bottom of the channel. I will wait for confirmation first before entering.

Long

Updated

AGL - Long if we see a triangle breakout JSE:AGL has formed a flat-top triangle and it is looking like we might see a bullish breakout soon. If it breaks through the top of the triangle, I will consider going long with a target around the previous highs of mid-August.

Long

Updated

SBK short if it remains within channel JSE:SBK has been trading in a sideways channel since June. Two days ago, it seemed to be breaking out of the channel in an upward direction, but now it looks like it has found some resistance at the top of the channel. If it fails to break out the top and continues down into the channel, I will consider a short position towards the bottom of the channel.

Short

Descending Triangle breakout on Harmony JSE:HAR seems to be currently breaking out of a descending triangle pattern. If it breaks through the current support level, I will consider entering short.

Short

NED triangle breakout JSE:NED has broken convincingly through the top of a triangle pattern and could be on its way up for a nice move. The next significant resistance is around the 16000 level which has been a support/resistance level since 2013.

Long

SLM - strong break through descending trendline With Friday's upward move, JSE:SLM has convincingly broken through a descending trendline that it has been obeying for quite some time. If it continues upward, I will consider a long position all the way up to the previous resistance level around the 7000 price range. The stochastic, MACD and EMA's are all confirming this upward momentum.

Long

Waiting for a breakout on RMI JSE:RMI is trading in a neutral triangle pattern for now, but a breakout could be imminent. Depending on the direction of the breakout, we could be in for a nice move. I will keep an eye on this one before making any decisions.

Updated

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