RobbyP

RobbyP

Looking the daily chart, we can see resistance being found at the top of the descending channel. Indicators are showing price weakness now and I think there's at least 5 bucks to be made here (possibly more). I'm short now just above 95.00. Will look to take profit at around 90.00. (we will assess if it gets there. Stop loss is a breach of the channel, which would...

RobbyP

The daily chart shows the 50 day moving average has breached the 200 day moving average. This is known as a "death cross". Next support R300.00 (use it, don't use it)

RobbyP

There could be a quick buck to be made if we get the levels

RobbyP

We have seen a significant pullback to test "NEW" support on this stock, I have noticed some renewed optimism in the price over the last week or so which did help push the stock through resistance by some way. We could possibly now be seeing the "kiss goodbye" for at least another move to R223.00 and then possibly even higher.

RobbyP

I'll be honest... I cannot for the life of me understand how this price got here neither can I understand why it shot up so quickly... Anyway, A close below 138.00 would signal a sell, So if you are long, I would be getting out. And a close below that level would be a nice shorting opportunity. The most significant support I can see at the moment is around...

RobbyP

With Kumba Iron Ore having broken short term support, it really opens up much lower levels from here. The next major level of support is way down at around 440.00. With it currently trading below 510.00 I think any bounce can be short sold. Ideally we'd want to short at 535.00 but I don't think we'll get it.

RobbyP

HAR honoring this bearish Channel. Momentum and RSI weakening, signaling that bounces are being sold. We could see the stock move lower from here to test the 200 Day Moving Average

RobbyP Updated 

Or have we??? Sappi very sneakily breaking out of that wedge pattern. It almost feels like everyone forgot about the stock because nobody was interested. Well I'm interested now. Strengthening RSI and momentum indicator. The break out of that descending wedge can be considered bullish and the convergence of the 21 and 50 day moving averages must now act as a...

RobbyP

Just copy and paste my last MCG trade and take profit on Friday lol

RobbyP

Major consolidation pattern and now testing the bottom of the range- If you are brave you would close your eyes and buy it now for a move back up to 150.00. With a consolidation pattern like this...just imagine where it will go if it breaks the top of the Channel...R210.00 I say

RobbyP

After their results AVI enjoyed a mammoth rally but has since pulled back. I have been waiting to see if it could hold above R71.00 and ALSO break out of the wedge. It has done both. This looks to me like we could see a healthy bounce to around R80.00. I'd be looking to buy at R74.00 or better with a stop loss at 71.00. PS. R2.50 Dividend on the 14th October but I...

RobbyP

It has been one way down for this stock and quite frankly, the fundamentals don't support owning this share. Anyway, from a technical point of view, it looks to me like support is broken and any "relief rally" can be sold. I'd be looking to short at 97.00 or better for a target around 85.00. It looks really weak.

RobbyP

Platinum has also had a run since the March "flash crash"

RobbyP

Absa looking to bounce here after breaking 2 parallel trends. Importantly we are seeing what may be the start of a new larger upward trend. The stock has become extremely over-sold so I expect a bounce from here to at least R103.50 and possibly higher. A buy below R90.00 looks good for the larger move.

RobbyP

After releasing preliminary results, Barloworld shares have started tanking. Low growth, slack demand and lockdown, all taking it's toll. Next up is the retrenchment of around 2000 staff. It's not looking good. We saw the "kiss goodbye" at the 81.00 level and while the stock has dropped significantly, I don't think the drop is over. I expect a re-test of the...

RobbyP

Astral held support nicely and looks to be bouncing. RSI nice and strong, I reckon we could get the move to top line resistance at roughly 178.00.

RobbyP

Netcare yet again failing to hold on to short term support and in fact, failing to hold onto any level really. Their results are late, which can't be good but I can't see how lock-down can be positive for them. I WILL short a bounce above 15.00. And I WILL bank it at 13.10. robp@unum.co.za. The chart is pretty much self explanatory

RobbyP

Looking at Pick n Pay's implosion today, I cannot see how Spar is going to fare any better. Anyway....From a technical perspective, Spar is reaching overhead resistance at about the 200 day moving average and has often been sold down at these tops which can be seen by the long upper tails that have failed to create new daily highs. So we have gone SHORT ahead of...