JSE Top 40 IndexHas regained it's position above it's weekly & monthly pivot as well as it's 8 & 21-EMA. On any advance, the declining 50-day EMA could act as a resistance zone. See accompanying table as a reference for the key moving average levels.by techpersPublished 0
TOP40Cash ALSI Head and shouldersA very bearish HS pattern has formed over the last couple of days on the ALSI, The bulls have a lot of work to do to support this neckline to negate further downside.by T2TWELLPublished 0
JSE Top 40 Index– 7-day RSI remains below 140-day RSI, suggesting bearish momentum intact. – Daily candle reflecting poor candle structure at support, suggesting risk of potential breach of support – Price remains below key supply zones in the form of key moving averages (8 21 50-EMA)by techpersPublished 1
JSE Top 40 Index: Q3 SeasonalityJSE Top 40 Index Q3 Seasonality. Notes on chart. For more insights such as these, get in touch today.by techpersPublished 1
JSE Top 40 IndexJSE Top 40: As noted pre-market yesterday, the 8 & 21-DAY EMA was a potential support on a retracement. We saw these levels act as buying areas intraday with the index managing to recover some of it's intraday losses. Resistance is the 50-EMA and 50-61.8% FIB. by techpersPublished 3
JSE Top 40 IndexJSE Top 40 Index: On pullbacks, moderate support at the 8 & 21-DAY EMA Range (See table above). Resistance is the declining 50-EMA & 50 to 61.8% bearish Fibonacci retracement zone. by techpersPublished 0
JSE Top 40In my 07 March report I highlighted the technical risk with the index having traded at the upper boundary (2.5 to 3x the mean) of it’s 200-month linear regression channel. We have since seen the index retrace toward it’s mean with the price lower by 16.6% from the March peak. The 7-month RSI prints 38 which is considered weak but not yet oversold. While we may see rebounds on a short term basis, the regime remains ‘weak’. Considering the quarterly time frame, it remains in a strong but near overbought regime.by techpersPublished 0
SA40Cash 15min inverted HS pattern15min ALSI broke neckline of a IHS pattern, this opens up targets to 60k if the bulls keep the momentum upby T2TWELLPublished 0
Top40- Cheap gets cheaperThe Top40 is precariously clutching to support, but as I see it, a breach of 59000 opens the door for another 4000 points downside. This chart just looks sick right now. I'd be selling here until I'm convinced otherwise. People who pick bottoms only end up with smelly fingers...Shortby RobbyPPublished 0
JSE Top 40JSE Top 40 Index - rejected at declining 8-EMA (prior demand-supply zone). Strength in Asian markets could see 21-EMA being targeted which will also be a distribution zone.by techpersPublished 0
#SA40cash Diamond patternIts been a while since a diamond pattern has formed on the SA40 index. take your pick, IHS or HS can form here. entry is key to risk management no matter which direction one plays. by T2TWELLPublished 1
JSE ALSI 40 - Short - Inverse Cup and Handle Technically an Inverse Cup and Handle has presented itself. The breakout below the brim level is still quite a weak breakout, but the stop loss is quite wide to give leeway. Fundamentally, Inflationary measures and rising interest rates are going to have a ripple effect around the world. The JSE will also following leading markets, which will bring it down. I'm going short... What do you think? Kind regards, Timon Rossolimos CEO, MATI Trader Shortby timonrosso87Published 0
TOP40: another leg down?Crossed below its 200-day simple moving average - which supports a bearish trend direction. A price action below 63 600 supports a bearish trend direction Crossing above this level will negate the bearish stance. Breaking further below 61800 might target 60600. Breaking above 63000 will be the first sign of strength building in the index. RSI leaves enough room for further downside price potential. Shortby Peet_SerfonteinPublished 0
SA40/J200 bearish and more bearishSA40 index retested the breakdown level 64200 today after it broke down to the downside yesterday from a confirmed HS pattern. right now bears are in full control of this downward channel and the lower price objective of 63000 can be achieved in the coming sessions Shortby T2TWELLPublished 1
JSE Top 40 IndexAt the top of last week I highlighted the theme, which was 'be selective', mentioning that traders should take caution following the strong move over the prior two week. The channel resistance and 61.8% FIB retracement was highlighted as resistance zones and we have since seen the index unwind from a 'near overbought' rating to a neutral rating. The next level of potential support is around the prior breakout zone or just above that at the rising 21-day EMA however we could also overshoot these zone to the downside. We are seeing the index coming under pressure in line with other global markets as bond yields rise, specifically in the U.S where the US10Y is above the psychological 3% level. For now, the theme remains 'be selective'.by techpersPublished 0
JSE ALL SHARE 40 - Bull Trap - Inverse Cup and Handle - 25 MayThe JSE ALL SHARE 40 seems to be forming two bearish patterns. 1. An Inverse Cup and Handle where the price is about to break below the brim level sending it down. 2. Bearish pennant which is tricking many traders into a bull trap. I may be wrong and this might be the bottom but in my 2 decade career, I've learnt to go with the trend until it confirms an end. So I am going short JSE ALSI 40 today.Shortby timonrosso87Published 2
#ALSI still trading bearish territory63600 has proven to be strong resistance on the SA40 index, bears can easily take prices back down to 62100 then possibly to 60250. on the flip side, if the bulls can get sustained trading above 63600, then targets at 64500 and 66000 can be achievedby T2TWELLPublished 1
JSE Top 40 IndexJSE Top 40 (Spot) Index (63026) | Bottom Line: On Tuesday, the index traded into and slightly overshot the demand-supply zone at 62900 to 63400 highlighted on Monday morning. This level (the high of the day) is also in line with the declining 21-EMA acted as a resistance level and distribution zone. by techpersPublished 0
TOP40- BrokenI think it's safe to say that support has been broken...Get ready to short the next bounce...Shortby RobbyPPublished 113
ALSI Top40 daily at support againALSI has tested its One year moving average for the 3rd time this year which also confluences with lateral support off the 63100 price level this level offers good Risk to reward for swing tradersLongby T2TWELLPublished 2
J200 ALSI bears remain in full controlJ200 trading below its 1 year average and looking technically bearish for further downsideShortby T2TWELLPublished 112
j200 ALSI bears in Cruise controlJ200/top40 showing Continued weakness today after yesterdays 1.5% selling with today price action confirming a bigger double top breakdown. by T2TWELLPublished 3
Roll over Beethoven- Top40The Top40 certainly seems to be rolling over as small rallies are being sold. It also looks as if the 50 day moving average is acting as a resistance level which is also evident in today's price action. Momentum indicators have all started to turn lower so it look a good opportunity to cash in on some downside... I think there's at least 2500 points up for grabs in the next 2 weeksShortby RobbyPPublished 5