Trader-Dan

Trader-Dan

The stock has come off the boil and returned to the up sloping 200dma Currently broken down out of a rising wedge pattern. Support : R11.90 , R11.60 Major Support : R11.00 NB: Upcoming earnings release "A rising wedge pattern is a technical chart pattern that traders use to identify possible trend reversals in the price of a security. It appears as an...

Trader-Dan

The stock rallied hard yesterday after dipping and likely trapping some shorts just below the ambush zone R91.74 Price has pushed back over of the 20/50 ema but it will be important to see some follow through today else a a short-term reset to R93-95 may be in order. "The 61.8% level is a Fibonacci retracement level that traders use as a trading strategy for...

Trader-Dan

- Price has pulled back from its recent swing high of R74.75 - Currently in a support zone where i will look to open a starter position and add to as the price action develops. - RSI deeply oversold with a relief bounce likely. - Only below R60 do i turn bearish on the overall picture. The Relative Strength Index (RSI) is a popular momentum indicator used...

Trader-Dan

The stock looks set for a relief rally after closing a gap from April 2020 and printing a swing low of R25.60 - RSi is bouncing off oversold and the bullish price action yesterday suggests a move up . - Positive RSI divergence TP & SL on the chart

Trader-Dan

Price has recovered well after reaching a low of R145 . A bullish cross over of the 20ema over the 50ema has just taken place. The stock is still however trading under its 200dma which could be a hurdle at R180. Support is now at R164.

Trader-Dan

Cannabis stocks are smoking hot right now with CGC clocking up almost +400% in a matter of days ... This comes after a long protracted "downer" from all-time highs in the 50's Price has now hit up against the down sloping 200dma, perhaps some consolidation before breaking through to new highs? $2.13 is next major resistance which if broken could see the stock...

Trader-Dan

Tesla has received an upgrade from MS and looking to breakout of the flag pattern. Price has been holding above the 20ema daily running up to the upgrade. I will be targeting gap close at the $290 zone eventually while $242 holds. A bullish flag is a price action pattern that indicates a continuation of an uptrend. It consists of two parts: a pole and a...

Trader-Dan

Bitcoin has been under some pressure of late as it battles to hold onto the $29000 level but still trading within a bigger range. It's currently at a horizontal support zone and below the 200dma. A break of this zone opens the gate for a down leg to target $21500. Alternatively, bulls recapture the 200dma and attempt the upside break again.

Trader-Dan

The stock has miraculously recovered after the March earnings release where it fell as much as -24%. It's managed to work its way back above the 200dma and has now at overhead resistance. Price action here will be key to see if bulls have enough power to push through or fade. There is an upcoming dividend as well - LDT - 18th Oct .

Trader-Dan

The stock has printed an interesting, inverted head and shoulders and its currently rising above the upsloping 20/50 ema's. While bulls hold it above R10.90 , the bull flag is likely to play out but for a longer term horizon, a stop below R10 would be preferable. The pattern targets R16 eventually. The inverse head and shoulders is a technical chart pattern...

Trader-Dan

Another stock in an upward trend which released results well received by the market. Price has been in a period of consolidation and has now broken upwards. Pullbacks towards the rising 20ema will be welcome areas to accumulate or add to an existing position. RSI is quite overheated here but can remain so for a while in a stock that is strong. Bulls are firmly...

Trader-Dan

This name keeps on delivering the goods and looks set for a continued move higher. Your stronger stocks will generally be above important upward sloping moving averages. A break of the high now targets R465 ... SL below R400 Trend trading is a trading style that aims to capture gains by analyzing an asset’s momentum in a particular direction 1. When the price...

Trader-Dan

The USDZAR is in a range between 18.40-18.90 and building energy for the next leg. Currently there is an inverted head and shoulders pattern developing which could become a possibility if the major 18.90 level breaks, then the neckline tests. I still have a target of R18.20 & 200dma open for test and favour that direction for now.

Trader-Dan

- Price is struggling to move higher here and will likely go test R268-270 or lower. - MACD has signaled a bearish crossover. - R276 beaks the bottom of the range . A bearish MACD crossover occurs when the MACD line, representing the difference between short-term and long-term moving averages, crosses from above to above the signal line. This crossover is...

Trader-Dan

- WHL has had a strong rally from thr R58 swing low and has reached swing high last seen in February this year.., - Momentum seems to be slowing and price is tested the rising 20ema. - Failure to take back the highs could see a fade to the 200dma A rising wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the...

Trader-Dan

- The stock closed on its low with some volume whilst the RSI is overbought territory. - Perhaps a pullback to the up sloping 20ema is in order. - I would be cautious here to add any longs. A bearish engulfing pattern is a technical chart pattern that signals lower prices to come. The pattern consists of an up (white or green) candlestick followed by a large...

Trader-Dan

The weekly chart is looking solid for this stock and we could see R43.50 in a relatively short time. The RSI is crossing 0.5 and Macd has crossed over. Decent volume pickup in last few weeks. The daily chart shows a bullish close on the high yesterday. Longs can be initiated with any pull backs while R39.50-R40.00 is intact.

Trader-Dan

Sasol had a solid day clocking up a 5.84% gain on the back of news causing energy fears. Price close above the down sloping 200day moving average and at its highs which is bullish. Next level of interest is the swing high at R266.20 and then R275. Ideally bulls will want to keep it above the 200dma to keep the momentum going or risk a fade to close gap at R250.