Broke above 200ma daily & closed just above 50ma, if Monday we hold above this level then we might be heading towards weekly 200ma, eventually there will be some retrace to possibly the RSI support so best to buy on a dip as long as we stay above weekly 50ma 1.53p Target 3.64p Latest news: Equatorial Palm Oil plc (AIM: PAL), the AIM listed palm oil development...
The price for ARI is moving in an ascending channel on the weekly and daily timeframe. The share price is now at the top of the ascending channel, which represents a critical resistance level. If prices find support at the 17 000 psychological level or the inner trendline, then we can expect prices to continue further with the bullish move. However, if prices...
Possible reversal on JSE:RNI because of the bearish harami that formed at the same level as a previous high/resistance.
Support channel holds with better budgetary news coming out of South Africa for at least until the end of March. Price should rally to top of channel: potential swing trade. RSI swinging to the upside indicating bullish uptrend.
Bad news in South Africa (power utility troubles caused the price to rally extremely high). The situation is somewhat normalized as of now but insolvency issues for the power utility company still persist. RSI shows super overbought so expect a drop sometime soon after slightly more uptrend and perhaps sideways. This is still in a strong downtrend on the...
Kumba Iron Ore is a South African iron ore mining company and a subsidiary of Anglo American. The company is the largest iron ore producer in Africa and the fourth largest in the world. Kumba is a mining group of companies focusing on the exploration, extraction, beneficiation, marketing and sale and shipping of iron ore. Kumba produces iron ore in South Africa at...
A dark cloud cover has formed on JSE:SBK which is a top reversal signal, so we can expect a downwards move. A dark cloud cover follows a preceding up trend where a red candle opens up above the previous day's green candle and closes 50% below it's body. This particular pattern has formed on quite a strong resistance level which solidifies the signal. We will...
JSE:NPN is looking good for a short on our trend following momentum strategy. Trade with caution as NPN has been very volatile of late.
JSE:TFG has had a lot of downward momentum in the last few days. Looking to catch a bit of the wave with a quick short trade to the long term support level around the 15500 area.
We have entered a long position on JSE:ABG because of a bullish ngulfing pattern tht has formed. Although there is not much history on this instrument, it is also at a support level which solidifies the signal.
JSE:APN has formed a bullish harami on a double bottom which means it should be good for a long position.
"On Wednesday the share tested and rebounded off the prior swing lows between 102 and 103.50. This appears to be a range-trading opportunity, with the upside target being the prior highs of 119. " Lester Davids, Trading Desk analyst, Unum Capital. Keep an eye on USDZAR as this will continue to impact South African retailers.
I just noticed that the stock has revealed a medium term channel up pattern. Lets see, if it holds and reaches the 100 mark by the end of March.
UsdZar has stalled on the 4hr support at the 12.80 area. Price is being squeezed between the trendlines. Expecting a break to the upside. A close above the 12.90 - 12.95 area will support my long bias. Target 1 = 13.30 Target 2 = 13.60
USDZAR - Short to 13.00 1st TP - 13.42 2nd TP - 13.21 3nd TP - 13.00 SL - 13.97 Sell - 13.54 or SellStop - 13.43 Good Luck. And Profits for All.