RobbyP

RobbyP Updated 

So we all know that Sasol is no longer an oil company right...? They did warn that chemical prices will cause a bit of confusion with their earnings too... Sooooo.... Oil price under pressure and some random mixed bag of chemical sales prices means that they have a bit of conundrum right...? Why don't we keep it simple and just look at the chart then shall we?...

RobbyP

The USDZAR has bumped it's head almost perfectly at resistance and it certainly looks like momentum has shifted. I reckon you can short USDZAR for a move back to at least the 50 day moving average which should scoop you a healthy size profit. Ideally you should be looking to enter the trade at around 18.30. We know how volatile this pair can get. So you should be...

RobbyP Updated 

The Top40 has been under pressure over the last few sessions and today it is looking like it has finally reached exhaustion. As the RSI begins to show more weakness, we can see how the Top40 has started rolling over and now it does appear that momentum has shifted to the downside. I think any bounce can be shorted here for a corrective move back down towards...

RobbyP Updated 

Making its 3rd attempt at that resistance levels now means that the next move will tell us what to do. A failure to get through R340.00 will signal a strong short for some decent downside. Obviously a convincing push higher will trigger a brand new buy signal. Just be aware that you may have to navigate their upcoming earnings...I'm not sure that I ant to be long...

RobbyP Updated 

I have pointed out the key levels which indicate a strong sell signal for this stock. Firstly, we have the breach of the 50 day moving average which was the first sign of weakness followed by the break of horizontal support (2). The most significant of all is break below the 200 day moving average which is the foremost sign of price weakness. It is starting to...

RobbyP

The dollar has been on a nice run over the past week or so, especially against the rand. At he moment the pair has entered a zone of resistance for the dollar where we can see (in December) intra-day "spike" highs have been sold. It will be interesting to see if this zone holds, to give us an opportunity to short. Conversely should we see the dollar break out of...

RobbyP

If this Head and shoulders pattern plays out, the theory says it goes to R95.00. While it could happen, I don't see a drop of that magnitude. But let's be honest, this share got way too high, way too quickly. So now it's time for a little bit of pain. The scenario I predict is rather, TGA breaks the neckline of that H&S pattern but does not drop to the extent...

RobbyP

I don't know why I feel like the general market has blown too hot too early but nevertheless, looking at the REM chart, it does appear to be hitting resistance at current levels. On top of that the share has become extremely over-bought (on the daily chart) with momentum also waning. I expect a small pull-back before any further upside. I plant my flag at R135.50

RobbyP

Astral expects a 90% drop in earnings as their input and feeding costs exceeds the sale price of chicken...Well the chart says it all. It doesn't look pretty. It's trading well below both the 50 and 200 day moving averages and I can't see it getting any better. I can see this stock going down back to 135.00/140.00 where there is significant support. I might even...

RobbyP

After the recent news that their Virginia operation is officially pumping helium, we saw a couple of nice spikes in the price. Two gaps in a row to the upside which suggests that investors are piling in and buying at just about any price they can get. More significantly though, for me, is the fact that the price has burst through the 50 day moving average which in...

RobbyP

If the trend really is your friend, you should be selling the hell out of the index. As pointed out on the chart, the index is heavily overbought, losing momentum and trading at a level with zero technical support. So assuming there is no "Plunge Protection Team", we could well see the SPX drop in excess of 300 points...PS. It's earnings season (he says in a whisper...).

RobbyP Updated 

I see the USDZAR drifting lower towards 16.75 after the current bounce. From there I think we see more Rand weakness creeping in and potentially breaching the 50 day moving average at around 17.30. I am a buyer at 16.75 for a short term target of 17.30.

RobbyP

First of all...How does this price even make sense? But besides that, we now have a bearish reversal candle (long upper tail, failed high) at over-bought levels as well as a potential double top scenario. We may be betting against the trend here (which we are) but surely sanity must prevail. I am of the opinion that we are beginning to see the start of some profit...

RobbyP

Shoprite is starting to look like it's run out of Steam. We can clearly see the previous two days candle sticks show that intra-day rallies are getting sold. So we have a long upper tail (failed high) followed by a "Doji" candle. This could signal a short term trend change. From these over-bought levels, I wouldn't be surprised to see a pull-back to the 200 day...

RobbyP

After the big 1 Dec drop, the price has tried to consolidate. the problem is, that it is consolidating at the lower end of that big red bearish engulfing candle. I think she bumps her head here and then moves sharply lower.

RobbyP Updated 

I have been waiting patiently to see if this 2-year support levels would hold and the stock has not only honored it but is bouncing off it. There is strength starting to creep into the price and I don't think you could be too far wrong buying these levels. I'm not saying chase it now but I would seriously use pullbacks to accumulate a decent size position for a...

RobbyP

Looking at the Satrix Fini, The recent bounce has merely served as a re-test of the "new resistance". If financials fail to break through this level, we could be in far a much larger leg down so be cautious about getting suckered into rallies. I still believe that we are in "short the bounces" mode. This set up is pretty simple to trade. If financials fail to get...

RobbyP Updated 

We are witnessing the fruition of the 50 day moving average crossing below the 200 day moving average, otherwise known as a "death cross". One thing is for sure, this price looks weak and sick. If this level does not hold, we will see the stock trade sub-R120.00