T2TWELL

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south Africa top40 index is once again here trading at major resistance at the 73050 level Bears desperately trying to hold this level, and if they succeed prices can gravitate back to the lower end of the range

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MRP weekly has come off 37% since the highs of 2021 and has formed a weekly falling wedge pattern till present date. Currently the bulls are desperately holding long term support at the R153.00 mark which if holds can see price slowly start trading back up towards the R185 mark in the next few months.

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NED is trading in a tight bullish flag box after breaking above the big R225 resistance back in January next resistance target comes in at R251.00

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OML broke out of its 490day bearish channel just a couple of weeks ago and is now trading at the neckline of an inverted head and shoulders pattern, A close above R12.10 can see a move to R14.45

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EXX is oversold into its 4 month lateral support base at the R193.00 level If bears cannot break down below this level, EXX can see prices to start moving up again

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EMI is trading in a 208 day consolidation box above its 1 year moving average support (R10,00) A solid close on good volume above R11,00 opens target to R13,00

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the top40 index has broken down below a 2hr chart HS pattern. the retest happened earlier today. If bear find more momentum we can see a target to 72000

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SBK is still trading in a bullish channel and has bounced off its 50 day Moving average which also happened to be its bottom support channel line. A move back up towards to upper channel resistance provides a 2:1 RR trade

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MIX has been trading in a horizontal box for the last 8 months, a solid close with good volume above R6.35 will confirm the break up.

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Growthpoint properties is still making Higher highs and higher lows within its longer term bullish trend R13.85 has been support since December last year and bulls can look to push higher as long as this support remains intact, (GRT also gives a 9.11% annual dividend which is always nice for a long hold)

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Naspers found support off its long term bullish channel support line and has held nicely above its 8 day box breakup. targets for this pattern can see it go back to trade the R3600.00 level

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PPC is trading back above its 1 year moving average and has broken up out of a IHS pattern. any pullback into R2.60-R2.70 is a good buying price for a possible move back to R3.50

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ALSI top40 has had a daily and a 4 hour close below its 10 day box support, 73200 is key level to watch if the bulls can regain control of it, if not lower price support levels will be explored near the 71800 level

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SUI is breaking down from a 60day box below the R34,00 mark However there is major support at R31.60 that could cause this breakdown box to become a possible fakeout,

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SSS (store-age) has been holding value area low support at R13,00 for quite some time now and is starting to make bullish channel breakup confirmation will be a close above R14,00 for long entry

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ALSI top40 index broke below its 21 day bull channel yesterday and has retested that same breakout level at todays HOD.(74050) If the bears can maintain below this level and gain momentum, the next target support area is around 72300

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CLS is now trading well below its one year moving average and has broken well below its major 500 day support at the R269.00 level If bulls do not regain this support , likely targets for a further move down will take CLS to retest the R238 level

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JSE has been in a descending triangle pattern since march 2022 which broke to to upside earlier this month, today we are seeing the retest of the R108.00 breakout level and if this holds we can see bulls start moving higher to eventually test R116 resistance