IPHB trade ideas
Impala Platinum: Short Term Outflows Impala Platinum: 'Money Flow' indicators suggest short term outflows for the share. Specifically, the trend line support going back to 26-Oct-2018 has been breached. Price possibly over-extended in the ST, trading 92% above it's 200-day moving average. RSI also at risk of breaking down. Would wait for a deep pullback to re-enter if you are looking for a long possible. Bottom line: can pull back in the short term.
JSE:IMP Impala in Wide Trading RangeImpala has been weaker than the other sector stocks (Platinum & Precious Metals Index (J153)), for some time (see Comparative Relative Strength). However, recently the stock has shown strength and is the strongest stock in the sector. After a Selling Climax (SC) and Automatic Rally (AR) in 2016 there has been significant selling pressure (OBV) but price has not been able to break the SC lows. After a smaller Trading Range (TR), break out and backup (Flag on daily) we are potentially going to see a markup to the top of the TR at around 7000. However, the first target to watch is the Yearly Pivot Point which is also the Preliminary Support (PS) level at 4000 (Completion of the flag). There is some space in the TR for longer term trades.
IMPALA PLATINUMThis stock has been bullish for a while now, its hit the support/supply zone and thus I am anticipating a pull back of either 50% or 38.2% FIB Retracement , that will be giving us "B" then we have "C" thereafter. You may sell the pull back but base your entry and target on smaller timeframe and also you may set buy limits for when it reaches the 50% Fib level and put your SL at the 61.8 Fib Level.
$JSEIMP Implats Flat top triangle breakout with a 6650 targetFlat top triangle breakout with a 6650 target
Impala Platinum - Short Term Bearish ReversalDear Trader
Following a stellar performance over the last six months, platinum shares appear to be in the early stages of a short term slowdown in upward momentum. Specifically, Impala Platinum is reflecting the following technical characteristics that suggest a short term bearish reversal is at hand.
- Bearish engulfing candle for today (12-03-2019)
- Double top formation
- A pending move of the Relative Strength Index (RSI) moving from overbought to oversold
- A pending bearish cross of the MACD
- The price is extended well above it's 200-day moving average, with the price being 117% above the moving average.
In addition, a gap at 5503c exists.
I am looking for a move back to 5250c, with the entry at current levels (5847c) and a stop-loss of 6100c.
JSE:IMP
$JSEIMP Nice flat top triangle break by ImpalaPrecious metals acting up which tells me that there is a sense of risk off in this market again. Flat top triangle break with a 4250 target price
$JSEIMPJSE:IMP
moved strong last few months. Bullish flag reached target.
Currently consolidating in sideways range. Thursday candle is nice bullish engulfing bar for traders who want to be aggressive.
If not you wait for the close above 3800.
Target is 4800-5000 range
JSE IMP5 waves all done, could expect a little push from the buyers but Im in to sell the market here.
ImplatsPrice now out of consolidation range, the trend is still up, R38 will be a good entry price for a target above R44.
breakout pull backBuy this stock on the pull back or retest of the broken resistance around levels of 2800. the stock is up for a bullish rally and has intercepted previous lower lows and is now forming higher highs and higher lows.
Trade Idea: Short/Sell Impala Platinum Key Technical Drivers
- Volume has declined on the 2nd push higher
- Potential channel breakdown
- Trading at overhead resistance
- Price trading 40% above it's 200dma
Suggested levels:
Short @ market 3247c
TP: 2900c (blue dotted line)
SL: 3460c
In addition, the platinum price is playing out from a bear flag pattern.
$JSEIMPJSE:IMP
After big move up $JSEIMP is trying to consolidate. Problem for me is that consolidation is taking too long. If this was bull flag we should be moving upside already.
On the bearish side there are triangle that was broken yesterday and re tested today.
$JSEIMP trading bellow 20 ema so possibility to go and re test neckline of head and shoulders.
$JSEIMPJSE:IMP
Had amazing run from 12 September. It is up 78% hitting some resistance.
We were long $JSEIMP based on inverted head and shoulders
