Looking at the JSE 40 all-share Index on the daily chart we can take note that the index has been trading downwards since peaking sometime during Feb 23, now looking to the left again we can take note that after the release of the 1st quarter Dividend & Earnings release the JSE drop on both accounts. Now looking to the right, we can take note that the JSE has...
Note how the trendline that has formed has had its 3rd successive touch with a reversal candlestick. Each turn off support has created strong upside price action the following day. The level where the top40 found support is even more significant as the 67500 has been a massive change of polarity on many occasions through the second half of 2023. The bulls have...
Symmetrical Triangle formed on ALSI and the darn price has just been moving within it for months on end. Any JSE short term trader is most likely struggling with the whipsaws. If one is not diversified in Forex or Indices - I don't know how they are making an income this year. Regardless, the price has broken below the triangle and below the 200MA for the...
Broadening Formation (Megaphone) has formed on the daily, The indicators are all showing bearish but I can't help but feel that the breakout will be up. Regardless, price action is saying the following Trend direction down 7 < 21 < 200 RSI =50 Bearish So, once we get a breakout we will know exactly what to do.
The JSE ALSI 40 has been moving in this large somewhat frustrating Symmetrical Triangle since December 2022. I've been bullish with the index and have expected it to break above the apex by now. But the triangle just keeps on moving in its consolidation sideways range. Thing is, the up signs are showing. This market wants to fly up and the rest of the...
JSE ALSI 40 - Bullish Bias Finally, the market chose a direction and we are only looking for longs. Falling Flag breakout 7=21 = Crossing up Price>200 -Bullish territory RSI>50 - Bullish Target 77,000 SMC: Two Sell Side Liquidity Order blocks have formed where Smart Money will come down to sweep the selling (buying into it) and it will push the price up. Now...
JSE ALSI 40 - Cup and Handle seems to be forming on the ALSI 40, We need to wait for a breakout to the upside. Price >200MA RSI>50 Target 79,178 I prefer banking money when markets go up than down. So this might be the saviour for May with the JSE ALSI! SMC: We have a Sell Side LIquidity area below the new Handle. This is where Smart Money has come and...
We are still in the Box range. This isn't a great trading environment to buy and sell. So we need to wait for the price break out of this box formation. Looks like the Sell in May and Go Away might apply this year, if we get the break below the box. I am kind of leaning towards the Bearish bias that the price will break below as many JSE stocks are lining up...
W Formation formed (small but evident). The price has broken above the neckline, showing strong buying and demand. The indicators look good for upside on the peripheral. 7>21 - bullish Price>200MA RSI>50 1st Target R126.66 ABOUT: Investec Limited was founded in 1974 and is headquartered in Johannesburg, South Africa. Investec is a diversified financial...
W Formation formed, we then had some high volatility around the price. Luckily, the stop loss would have been below the pattern. The indicators were all showing bullish signs. 7>21>200 RSI>50 Target struck at R21.34 ABOUT THE COMPANY Life Healthcare Group Holdings Limited was founded in 1983 and is headquartered in Johannesburg, South Africa. Life...
Potential Cup and Handle is forming on the daily. We are seeing higher lows form and the supply side is dwindling. Once we get a break above the brim level, it'll be all systems go. 7>21 Price <200 - Bearish RSI>50 -bullish Target R1,644.61 SMC: Sell Side Liquidity order block has formed below the formation. Each time the price touches, it runs up. That's...
Symmetrical Triangle formed on Sappi, the price broke below the apex and the price chose the bias of down. We had other indicators showing bearishness such us. 200>21>7 - Bearish RSI<50- Bearish Target reached at R40.60 The trend is still down and we will need the next formation to form before we decide what to do next. I'll keep you updated. ABOUT Sappi...
W Formation formed and broke above. We then had some whipsaws (jumps). The volatility of the markets showed that the stop loss needed to be wide and far from the general movements. This is what keeps you from being shaken out. Then other indicators showed upside to come including. 7>21 (Bullish) Price >200 (Green) RSI>50 (Green) The target remains at R19.09....
W Formation on AfroCentric was strong. Broke above the neckline but the overall volatility was very jumpy. Hence, the stop loss would be right below the entire formation to make for the chop. 7>21>200 RSI>50 Bullish Target remains at R5.93
What was a low probability trade has turned into an extremely high probability trade. The H&S broke below the neckline. We then had all other signals kick in bearish. 21>7 - Bearish Price < 200 - Bullish RSI<50 - Bearish Target can easily be R11.88
We ended the week on an awful note with resources dropping over 4%, with gaps down and with sudden breakaway trends. Looking at the bigger picture of the ALSI 40, we still remain with Bullish Bias. 7>21>200 RSI>50 And we seem to be making a Falling Flag, which needs to break up. Also with SMC, it's early days but we have the first level of liquidity (Sell...
Reverse Inverse Cup and Handle formed over the last few months. Then there was a Rising Flag formation, which is a consolidation period before further downside. We need the price to break below, to get a stronger sell signal to the downside. MAs = mixed RSI<50 Target R40.21 SMC Buy Side Liquidity (Order Block) formed at the TOP of the handle of the Cup. This...
Inv Head and Shoulders formed on the 15 minute chart. We had an evidential Sell Side Liquidity Order block form around the Right Shoulder. This is where the price broke structure and we entered with our TP1 hitting 72,600. Next we have another setup preparing. We need the price to come back down to the most recent Sell Side Liquidity Order Block. sweep...