We were very close to the analysis being null and void.
But then, we had a change of wind and the market bounced off the lows heading back to the range.
It then broke up and is now on the way to the next target at R3.91
Looks good still.
Falling Flag - Breakout took place on 18 Dec 2024.
The price stayed above 200MA but lingered between the range of 20MA.
We are seeing lower highs and lower lows. WHich means a broadening formation is forming between the bulls and the bears.
There is no strong indication when the price will rally but the analysis does remain the same until the price either...
Capitec has been in this Broadening Pattern (Vuvuzela) formation since November 2023.
It breaks into higher highs and lower lows. But the overall momentum and trend channel is up.
It will continue trading in this range until we get a breakout of the resistance or support. My bet is it will first trade to the top of the range at R2,485.92.
Capitec has always...
What a difference a dividend makes!
The payment went out on the 15 April 2024, and because there are derivatives that traders can trade off - the algorithm droped the share price quite significantly.
I don't think this company should be providing such high dividends if it wants growth in the share price, but hey I'm just the guy behind a computer.
So last...
Bidvest has been moving in a sideways consolidation pattern called a Diamond Pattern since November 2023.
This is where there is a tug of war between the bulls and the bears.
BUt the fact that the price is holding quite well despite the international market crashes, means the buyers are holding the stock strong.
It will most like need a few more weeks/months...
We recently saw it break out of the medium downtrend since January 20024.
The price broke above the W Formation's neckline and above the 20 and 200MA.
This states the medium term nature is HIGH probability for upside.
The concern is the price gapped up and now needs to fill.
SO I am patiently waiting for the Gap to close and then rebuy on the bounce of the...
Merafe was easily set to great upside to R1.72
This was due to a Box Formation, Upside and Price above the moving averages.
But then 22 cents Dividend was given out which caused the share price to drop quite quickly.
So is the analysis still on? I guess it is as long as it hasn't hit the risk level.
But these are things to take into account and learn from.
M Formation has formed on PPC since November 2023.
This is a very risky trade analysis due to the high volatile nature of the share.
But if the uptrend holds strong and lower highs continue, we could see a very big fall with the cement company.
Medium Probability Trade
Price<20 and Price <200MA
Target R2.37
BOX Formation has formed on Renergen. Also there is a rounding bottom.
The price has broken above the neckline of the Rounding Bottom but not the box form yet.
Once it does, we should get an easy indication that the market wants to head up.
The nature of the analysis is Medium probability due to
Price>20MA
Price<200MA
Target 1 will be to R21.82
Inv Cup and Handle has formed on Netcare since November 2023.
It is a high probability nature that the price is likely to drop as the price is below both 20MA and 200MA.
First target is to R10.36.
NOTE: I do acknowledge that there could be a short term W Formation which could cause some chop and even short term upside.
So this is indeed a medium term analysis.
Head and Shoulders has formed ont he dail since Early 2022...
The price broke below the neckline and has since then, been showing lower highs within the down channel,
We also have confirmed downside with the Moving Averages.
Price< 20 and <200
It looks bleak but the system is the system, so the first target is set to R76.08
There are two potential rising formations to come for Sasol.
Either Rev Cup and Handle or Inv Head and shoulders
We do need the confirmation though for upside to continue to come.
Moving averages yield a Medium Probability setup with
Price>20
Price<200
Oil is also confiriming a short to medium term rally which will help push up the price
Target R228.61
Head and Shoulders has formed on Absa Bank since 28 December 2021.
Major downside to come if the price stays below the brim level.
Price< 20 and <200 and the background has turned red.
Target R76.08
Inv Rev Cup and Handle formed on the daily chart.
Absa has been coming down on a strong trajectory, despite the upside in the US.
Technically, we have a strong likelihood that the price will continue down.
Price< 20 and <200
Target R127.02
Broadening Formation (Vuvuzela) and W Formation is forming on AngloPlats.
We are seeing synergy with the upside with the platinum price and platinum stocks.
I guess no suprise knowing they work in tandem with each other.
Also, there is a good chanc eof upside with the price above both:
Price>20 and Price>200
Wait for break above the necklines and we could...
M Formation has recently formed on PPC.
We are seeing negative signs more than positive.
On Tuesday, the price crossed below the 200MA which confirmed downside to come.
Now we can expect a test and a consolidation period before further downside, but well need the price to cross and close below the 200MA first.
Target R2.37
These are the type of stocks that I don't even give one breath of a time to see.
Yes I'm doing that now, but the thing is there are MANY traders who think these are the stocks they can buy at 1 cent and hold to 4c - 400% return and this can lead to one of three ways.
1. You hold forever
2. You strike lucky and it actually does go there
3. It goes to 0 and...
Symmetrical Triangle was a a text book trade. The previous trend was up. Price broke above the apex 3/4s in and the momentum continued up.
We had further indicators of confirmation for upside to come.
Price>20
Price>200
Target 1 R206.03
So what now? Well we can expect somewhat a consolidation, and a potential Cup and Handle to form. Then we have the next target...
