MarketMeistersTrading

MarketMeistersTrading

It looks like IMP (JSE) is at a decision point. Previous Earnings Pattern: In Feb & Aug 2024, the stock dropped 10-12% post-earnings, continuing the downtrend before hitting the bottom trend line (green), which acted as a strong support and reversal zone (blue arrows). Current Setup: MACD is tightening into a squeeze, sitting in a bottleneck, gearing up for...

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MTN Group Ltd (JSE: MTN) has been in a downtrend since September, failing to break the resistance around 96.00. A bullish falling wedge is forming, suggesting a potential breakout with a target around 95.00. The current price is testing a key support zone at 81.70, which has held in 3 out of the last 4 tests. RSI and MACD indicators are showing signs of bullish...

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KIO (Kumba Iron Ore) 1M Chart Analysis Building on the previous analysis, the KIO monthly chart shows a large falling wedge. If the price finds support at the lower trendline (4), it could rebound toward the upper trendline, with an initial target around 495. RSI supports a potential bounce, maintaining a trendline that has held since 2017. Confirmation of...

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Building on the previous analysis, since April 2020, this area has served as a consistent support level, aligning with key technical signals. On four occasions, upward MACD crossovers, combined with RSI breaking its downtrend, preceded an average 50% gain.

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KUMBA IRON ORE (KIO) - WEEKLY CHART ANALYSIS KIO is currently hovering around a strong support zone, which aligns closely with the levels we saw back in September/October 2022 when China introduced additional stimulus measures following the May and August rounds. This support has held firm since April 2020, making it a key area to watch. Looking at the RSI, in...

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They are down nearly 40% since its peak in March 2022. This pullback mirrors similar trends observed in other South African Inc stocks. Currently, the share price has retreated to the lower trend line that has been established since 2022, finding support at R86.50. This pullback may potentially position the stock for a rebound. Our Entry: R88.00 There are some...

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TRUWORTHS - The current price is now testing the lower trend line within a broadening wedge pattern. Anticipating potential support at the trend line; however, a break below it might signal a significant decline, offering a potential short play. It's worth noting that in the 50 days leading up to the past six earnings release dates, there has been an average...

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Looking at MTN's price action, it's been on a downtrend since breaking out of a sideways range. The RSI shows it's oversold. I'm waiting for the RSI to cross above the downtrend line, similar to what happened in May 2023 after the earnings report. My plan is to aim for a target of 108-110 initially. If it breaks above that with good support, I'll consider adding...

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SPP's price is currently moving within a trend channel, and it's testing the upper trend line as we wait for this week's earnings announcement. Looking at how the stock behaved before, we can see that attempts to break key support levels were met with resistance, forming lower highs. Target 1 around the 96.68 area. Caution: If the stock breaks above the trend...

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Trading Analysis for Woolworths on the JSE: Woolworths (WHL) is set to announce their FY23 results on 30th August 2023, following a significant 35% rally since June 2023. However, Their recent trading update revealed that HEPS (Headline Earnings Per Share) fell below expectations, accompanied by negative concerns around load shedding. Currently, the price is...

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Platinum experienced a marginal rise, potentially due to geopolitical concerns. Looking at the daily chart, the metal's price made an attempt but fell short of surpassing the $894.82 level, which corresponds to the 20-EMA. It also tested the upper trendline of a wedge pattern. Notably, the RSI broke above its previous downtrend, indicating a moderately bullish...

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SASOL (23/08/2023) - MONTHLY CHART: Sasol's monthly chart shows a rounding bottom pattern, similar to movements in August 2008 and April 2011. The price appears to consolidate around a support zone, excluding the COVID-related drop. This might lead to a sideways phase followed by a potential long-term uptrend. Note: The time taken for the pattern's first half...

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Richemont's trading chart signals a potential entry into Impulsive Wave 5, as observed on the weekly time frame. - Monitor the emergence of support above the previous high of Impulsive Wave (1) resistance. - This support could drive a price movement towards the 400 level. NOTE: RICHEMONT - These ultra-luxe brands appeal to the top 0.01% of earners, who remain...

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Currently, we're observing the price action of HAR. On the daily chart, a potential Cup & Handle (C&H) formation is taking shape. Recent action has caused the price to dip slightly below the brim, but a stronger break downwards move is needed for confirmation. Concurrently, there's the presence of a falling wedge pattern, suggesting the possibility of an upward...

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We expect a bearish movement as the price retreats from the High Supply area supported by previous resistance, FRVP, and RSI-overbought conditions. Traders should monitor the price action closely for a potential bounce or reversal around the trend support line to identify possible buying opportunities.

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Will it happen again?

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SHP has been moving sideways in a clear pattern, with repeated fluctuations around earnings results that typically result in a price decline. It's possible that this pattern will repeat itself once again?

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- There is a possibility of a medium-term trend reversal for MRP as the price approaches the lower boundary of the channel, which could act as a potential support level. - This support level has the potential to launch a new upward movement in the share price. - RSI is showing signs of moving out of the oversold area, indicating a potential buy signal. - RSI...