Trader-Dan

Trader-Dan

- Price has rallied hard from the June swing low of R46.82 and looks to be running out of steam at this resistance level. - A short trade is initiated to look for a reversion to the mean . - RSi overbought -MACD crossing over Stop (daily close above) and take profit on the chart. "A reversion to the mean trade is a trading strategy that assumes that over time...

Trader-Dan

Price is pulling back to close an open gap at R3325 RSi into oversold territory. If buyers support the stock here i will look to trade a long position of this level. Stop loss and Take profit on the chart. Gaps are spaces on a chart that emerge when the price of the financial instrument significantly changes, with little or no trading in between. Gaps can...

Trader-Dan

The Dollar Index has once again from support in the major support zone and made its way back to the down sloping 200dma. Above $104.15 things could really interesting here.. The DXY index is the symbol for the US dollar index. It tracks the price of the US dollar against six foreign currencies, aiming to give an indication of the value of USD in global...

Trader-Dan

After a successful breakout and price reaching the first level of interest around R165 , the stock has given up gains to return to the breakout zone. The chart has printed 2 bearish down days and could likely test the up sloping 20ema / 50ema. Ideally bulls want these to hold these else a deeper pullback / reversal becomes a possibility. Previous post in...

Trader-Dan

Naspers closed the month near its highs and above the previous month high. Next major levels are the swing high at R3582 and R3605 . Bulls hold the upper hand above R3315. A fakeout is a false breakout that occurs when the price moves outside of a chart pattern but then moves right back inside it. It is also known as a “false breakout” or a “failed break”....

Trader-Dan

The stock has formed a lovely bull flag and looks to be gearing up for a nice move towards target around R72 Ideally bulls don't want to see a daily close below R53 as it will negate the positive bias. A bull flag is a bullish continuation pattern that occurs during an uptrend. It is formed by a sharp price increase (flagpole) followed by a consolidation period...

Trader-Dan

The stock has formed a decent bottoming pattern on above average volume which has a measured move target that could see it back at the gap left behind after the November 2022 sens. (R184) Hurdles in between will be R156.50 & R165 levels The cup & handle pattern will be in play while price stays above R136. A cup and handle pattern is a bullish continuation...

Trader-Dan

The trade idea is in play and with price showing support above R6.20 The risk reward is great at this point as we target the R8 level initially. A successful break above would be a good level to add to the position. A daily close below R5.40 negates the idea. A falling wedge is a bullish chart pattern that signals a potential trend reversal to the upside....

Trader-Dan

Our previous idea indicated a flag break which consequently failed but the chart has now developed into an inverted head and shoulders pattern which targets R204 zone initially. Ideally the bulls want to hold onto the up trending 20ema on any pullbacks. The inverted head and shoulders is a bullish indicator in the stock market. It is similar to the standard...

Trader-Dan

Price pulled back to the rising 200dma and has shown support in that zone. We back above the short term 20ema moving average and the macd has indicated a shift in the tide. Stoploss & Target on the chart. The Moving Average Convergence Divergence (MACD) is a trend-following momentum indicator that shows the relationship between two moving averages of a...

Trader-Dan

Price has reached swing high resistance and currently flagging for an attempt to break out and reach the first gap at R13.30 Price is also firmly above all key moving averages. ✅ R12.30 needs to hold on any pullbacks or risk a deeper pullback to the 20dma. A bull flag is a bullish chart pattern that occurs when a stock is in an uptrend. It is considered a...

Trader-Dan

The chart has printed a decent inverted head and shoulders pattern. A successful breakout targets the down sloping 200dma around $50 then R55 for a measured move. An inverted head and shoulders pattern is a common chart pattern in technical analysis that signals an upcoming bullish trend after a period of a bearish trend or consolidation. The pattern is formed...

Trader-Dan Updated 

I put this chart to display all the ideas i have posted on this stock. R118 - R150 is retrace zone of the larger pic ... if no support is found, a test of the initial break zone around R68 becomes a possibility #justsayin

Trader-Dan

The ZAR has so far strengthened 10% against the mighty dollar since the June 2023 peak. Next major levels of interest are R17.50 & R16.70 The R15.80-R16.70 zone will be a great area to accumulate dollars imo.. Above R18.70 will change the picture in the short - medium term for the ZAR longs

Trader-Dan

Price has rallied well this week of the swing low of R115 and found support around the yearly S1 pivot. It has now closed above the down sloping 20ema. Bulls will need to defend R122.50 on any pullbacks to have an attempt at R137.50. A break above here could open the gate to a decent leg up towards the 200dma. Pivot points are a technical analysis indicator...

Trader-Dan

The PGMS are finally catching a relief bid and SSW has since got back over the down sloping 20ema. While bulls hold this moving average and stay above swing lows, price looks set to go back towards the down sloping 200ema / resistance zone R36.50-R38.70 NB: There is a open gap around R39.50 A double bottom is a bullish reversal pattern that shows a trend...

Trader-Dan

USDZAR has arrived at the 200dma after tagging my top side level of R19.13 Will need to see how it reacts here today and tomorrow. R18.43 needs a retest. The 200-day moving average is a technical analysis tool that helps investors and traders determine the overall market trend. It is calculated by taking the average closing price of a security over the past...

Trader-Dan

MTN has formed a bullish flag pattern that could see it rally towards R146 initially. Bulls will need to hang onto the 50dma around R130 to keep this idea in play or risk a further down leg to R126.50 - R122.00 A bull flag is a bullish chart pattern that occurs when a stock is in a strong uptrend but then has a slight consolidation period before continuing its...