Trader-Dan

Trader-Dan

PEPSI released earnings today and announced a 10% increase in its dividend. The stock is trading within a large rising channel. The MACD is turning up and a swing to the top of the range is possible here. Bulls are in control while we trade above $166 (Daily close)

Trader-Dan

CENX has managed to claim back the 200dma and has formed a nice inverted head and shoulders pattern to launch off.. $14.50 level above will be the first likely target. Stop and Target on the chart.

Trader-Dan

The stock has rallied up to a major downtrend line and resistance zone. It will be interesting to see how price reacts here.

Trader-Dan

Sasol had a nasty drop after it released its trading update. Its looks to be targeting gap close , R305-R310 is likely to be a hurdle for bulls.

Trader-Dan

Pick n Pay has been sold off (pre-earnings) and is in oversold territory. A trade update is still to be released but it may present an opportunity to go long if the market has 'overreacted' here. Price is also at a key retrace / support level.

Trader-Dan

Year to date performance on these major retailers Clear out-performance on JSE:SPP whilst JSE:PIK been one way down.

Trader-Dan

Price continues to grind inside the support zone . (Range) Daily printed some good volume yesterday and the MACD continues to curl up on the weekly (Positive)

Trader-Dan

The banks continue to defy all odds and the current challenges in the country ... Possible bull flag in play on Standard Bank , the test will be to break the recent swing high . R184 If bulls successfully capture the level, R206 becomes the measured move target on the long side.

Trader-Dan

Important level for bulls to hold on Shoprite after releasing their operational update. A daily below R235 opens a possible test of the 200dma .

Trader-Dan

The stock has been in a stage of distribution with the main area of resistance level being R36.85 The sell off yesterday was also done on large volume .. A pullback to 200dma is possible here.

Trader-Dan

TGA has had a deep pullback after paying out a size dividend and declining together with coal prices. In the short term , R231 needs to be gained for bulls to stage a comeback.

Trader-Dan

The dollar is showing signs of support at this key zone and we will like see some strength which will negatively impact commodity stocks. First hurdle will be the yearly pivot around $ 104.22

Trader-Dan

- Looking at the markets this morning, ALSI likely to go to test bottom of this channel again. - Bulls will be in trouble if it breaks. 🫣

Trader-Dan

The SP500 has so far staged a 16% recovery off the Oct 22' swing low and managed to break through a major downtrend. The next big hurdle for the bulls will be the VWAP-4195 that runs from the Dec 21' swing high and the 4300 major resistance zone if this momentum continues into the week. Any pullbacks to the major trendline and 3900 will need to be defended or...

Trader-Dan

After reaching a low of R256.44 , price printed a reversal and has trailed out the remaining position on the short. Sasol is back at the key resistance zone around R323 and the 200dma . I will be watching to see how price action develops around here to see whether another short opportunity will present itself or if a breakout occurs. NB: Stock has been upgraded...

Trader-Dan

- Not a very exciting stock as it trades in a massive range - The chart is printing higher lows since June 22' and could possibly push higher here but its likely to be a grind. - I would look for pullbacks to enter a position , somewhere closer to R105

Trader-Dan

- Telkom has pulled back to an area of interest. Bulls could step in at the R32-R33 zone and target swing highs or the 200dma - Below R30 would negate the bullish view.

Trader-Dan

The JSE ALLSHARE is now back at an ALL TIME HIGH and key resistance level on the hourly .