Cheyne54

Cheyne54

A break and a hold above USD1951 per ounce would pave the wave for a break above USD2000 per ounce

Cheyne54

Strong day for local SA banks and FSR Chart is looking interesting. If levels can hold above R57.50 and break through R59.50 - it could pave the way for a recovery all the way up to R71

Cheyne54

The volatile rand has recovered since breaking back above USDZAR 15 just over a week ago. Testing resistance at 14.50 and a close below could pave the way for 13.90. Some of the rand strength has come off the back of recent dollar weakness, but ZAR proving to be one of the strongest EM currencies currently

Cheyne54

XAUUSD found support at 1718 and has recovered quickly. It could head up to previous support turned resistance line at 1748. It can break through and hold, then will be back in the channel and can head up to 1840

Cheyne54

Watching Redefine very closely around this level. If the resistance turned support line can hold around these levels, then price could eventually recover to R6. However, if support fails, further support should be found around the R3.50 price level. Trade offers a roughly 3:1 reward to risk ratio.

Cheyne54

The EOH Chart is looking quite good. It rebounded nicely off support, it is still trending upwards and forming higher lows. This share should head into the R11's

Cheyne54

ZAR very much on the front foot after another strong day against the dollar. DXY basket is actually up on the day, but ZAR up nearly 0.7% against the greenback. Look for further ZAR strength to 14.14 and then possibly to 13.83

Cheyne54

Massmart having a very strong day. Currently up nearly 10% and breaking through resistance around R49. If it keeps its upward momentum, it could run until the mid R60's...offering over 20% of upside. This, however, is in contrast to the fundamentals and the impact anticipated by load shedding on SA retailers

Cheyne54

After a good run from Aspen, it looks like the gap up will have to be wait to be filled. The share has run out of steam and tracking lower. Import level here as it should find support near its 50 day MA, otherwise likely to fall back to 200 day MA - which looks to be currently around R100

Cheyne54

ZAR just weakened after poor 3Q GDP print of -0.6% vs Bloomberg concensus of 0%

Cheyne54

ZAR strength #Rand looking to test key level R14.53. A break through could open a move to R14.13

Cheyne54

After a decent run in the woolworths $JSEWHL share price since May '19, the share price has fallen nearly 18% since its recent high in early November. The more recent catalyst for the fall was the trading update on 27th of Nov. Woolies food continues to do well but the rest of the business and Australia, weighing in on sentiment. Look for support around the R49.90...

Cheyne54

Market reacting positively to the trading update issued this morning by British American Tobacco $JSEBTI. The price is looking to break out of sideways range and a move above R581 could clear the way for a move up to R610. Above R610 the next profit target is all the way up at R675

Cheyne54

Eurostoxx 50 has been on a very strong run. Key level being tested on the 5 year weekly chart. The index has already reached a 5 year high but if can break and hold above the resistence line at 3705 it could head up 3824 and anything above that would be the high going all the way back to May 2008

Cheyne54

Exxaro $JSEEXX trending up nicely after having fallen after the payment of the special dividend. On the weekly chart, share price looking like it should reach R150 where it will meet a strong previous support line and its 50 week moving average

Cheyne54

Not much mention of Steinhoff, but it's horrific run continues and looks like share will continue to plummet if breaks through support at 82c. $JSESNH

Cheyne54

Technically gold looks like it should continue trending up to resistance at $1,500. It will however have to push through its 50 day MA, but risk off sentiment with US and China phase 1 trade deal looking further away, could be the catalyst

Cheyne54 Updated 

Strong day for Mediclinic. Looking to retest resistance around R60. If price can break through and hold above, there is potential upside to R76 (above 18% from current levels). Despite recent pull back, trend is still upwards with higher lows being posted