Clicks makes a record high closeClicks made a new high yesterday with increased Volume
I'm adding to my position
CLS trade ideas
Clicks - Short and Medium Term ViewsTwo time frame perspectives.
Short Term - Daily Chart - Neutral to Bearish
Trading at overhead swing high resistance, possible dark cloud cover candle formation.
7-day RSI at 80. A 'near overbought' zone
Extended vs it's 50-EMA
Extended vs current pivot
Trading at 63-day (qtrly) and 200-day (yearly) linear regression channel resistance.
Medium Term - Weekly Chart - Neutral To Bullish
Ascending triangle developed
Held weekly pivot and nearing 'R1' (positive)
If 27700c turns to support (from resistance), this will add further conviction.
For more technical insights and opportunities, get in touch with me today.
Clicks holding the trendline supportClicks held the trend line support. closing back above the 50day EMA. Allowing for a tight stop loss just be the recent swing low and the 200 day EMA.
CLS: heading higher?A bullish trend is applicable above 25300.
Upside price potential supports the bullish trend.
RSI leaves some upside price potential.
Trade setup remains risky.
Market Neutral/Pairs Trade Idea: Long Clicks / Short Dis-ChemDCP has been one the best performers over the last few months. I initially recommended in July at R17.00, followed by 2 Trading View publications in December 2020 below 2150c (see attached). At current levels, the share trades ~ 3016c, with the 4H and daily RSI at 90 and 95 respectively. If you, like me, feel that DCP has run a bit too hard, you could pair consider a pairing a DCP short with a CLS long.
Here, the trader makes a profit in one of three ways.
1. CLS rising and DCP falling
2. CLS rising faster than DCP rising
3. CLS falling slower than DCP falling.
On the left, you'll note the ratio chart being extremely extended versus the 200-day moving average while nearly all the major short term time frames are 'oversold'.
Whether this is the exact low, I don't know however the short term reward-to-risk is starting is becoming attractive for a smaller-sized pairs trade.
Current Price (Ratio): 8.43
Entry Range: 8.37-8.44
Stop-loss: 8.24 ( a wider stop)
Target Range: 9.05-9.20
CLS: heading higher?Previous bullish divergence acts as confirmation of internal strength that is developing within the share.
Breaking above key resistance.
Upside price momentum supports the bullish trend.
Remains above its 200-day simple moving average.
CLS - Down trendline breakPotentially breaking its down trendline. A close above R250 triggers the long idea with full target at R270 and stop loss below R236.
ClicksHead and Shoulder developing on the daily chart, whose neckline is coinciding with its 200dma.
Should it break, measured target is below 200.
Clicks long if trendline brokenJSE:CLS is showing signs of upward momentum based on our trend-following strategy. However, it is struggling to form higher highs and break the down trend that it has been trading in for the past month or so. If it breaks this trendline, I will consider entering a long position.
Pay less for clicksYou can start shorting Clicks.
I do like the company - corrections are healthy for markets and their participants.
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.
Swing Trade: Clicks GroupClicks JSE:CLS seems to be bouncing off the bottom of a 100-day regression channel, supported by the 200 EMA line and a decent double bottom pattern.
The leading RSI and Stochastic indicators signalled a trend reversal on 26 February 2021 by turning up through 50 and crossing up through the slow line from a low base, respectively.
The MACD (lagging) confirmed this trend today, 2 March 2021 by crossing above the signal line.
Entry for me would be a confirmed close above R250, with a price target of R264 and R279 based on resistance levels, and if it fell out the bottom I would exit at R239.
Reward: 11.73%
Risk: 4.37%
Ratio: 2.68
CLS - 1D - ASCENDING TRIANGLEI road this wave before and climbed out at the top. Price is now at bottom of the channel again and i will re enter. I have a short stop loss in place if it breaks to the bottom of the channel. Maybe jumping the gun a little with this trade. Stochastics on weekly and daily are both in over sold territory and ATR is giving a buy signal. They sold of Musica, and should get some benefit out of the distribution of covid vaccines.
Clicks looking to break to the 25700c - 28100cClicks looking to break to the 25700c - 28100c box from 23300-25700 box. I’m waiting for a 3% break from the 25700c resistance. Looking for a close above 26400c. I will enter the position and my stop half way through the 23300c-25700 box.
A nice Ascending triangle on On Clicks with a healthy chanellNice healthy uptrend chanel as well on the Clicks. This weekly chart looks very good
Clicks moving back up to the top of the channel?After a nice move towards the bottom of the channel, JSE:CLS has bounced off of the bottom again and looks like it may be heading to another test of the top of the channel. It has been bouncing around in this channel since July 2020.
CLS - 1D Channel surfing. Instrument has touched bottom of an upward channel coming from July 2020. Daily stochastic 14 oversold, weekly stochastic 5 oversold .ATR giving buy signal. Sentiment should stay favourable towards Clicks in the for time to come.
Clicks - possible retracement to bottom of channelAlthough JSE:CLS is trending in an upward direction, it is also trading in a parallel channel. It bounced off of the top of the channel and seems to be retracing. For the moment, I think it is possible that it will retrace down to the bottom of the channel before turning up again. The bottom of the channel also coincides with a strong support and the psychological level of 25000
CLICKS HERE to short- A bit of a false break for the retailer here and falling back below previous resistance. All momentum indicators have swung sharply downwards which indicates to me that this resistance level is in place and the stock can be shorted. With larger support way down at around 240.00, I wouldn't be surprised if we did in fact see a move down to there. So...I'm Short at 260.50 with a stop at just above 270.00. HOPING to see 240.00 in the next week or two...
Weekly game plan 17 Jan 2021 - CLSCLS broke a significant resistance level. If it can hold above this resistance, it could be a great long here with a good risk-reward.
Ascending triangle Click breaks through the ascending triangle pattern on Friday. I will be adding in to the trade and moving my initial stop to 23743c and my minimum target is 35800c.
Checkout the weekly game plan here: villagetrader.co.za
A nice looking Ascending triangle pattern A nice looking Ascending triangle pattern on Clicks. The share has been making higher lows through the latter parts of 2020. Waiting for a close through R273.64. Using the height of the triangle from its broadest point. My target for Clicks is R358
Read week 2 game plan - villagetrader.co.za
