S32 is currently in a descending wedge with bullish RSI divergence. Look for a breakout and retest of upper trendline or support zone for entry, stoploss at last swing low and will be moving SL to BE when safe to do so.
South 32 (S32) was spun out of BHP Billiton in 2015 and contained all of BHP's South African coal assets. It is, in its own right, a diversified miner of base metals and minerals such as zinc, coal, aluminium, silver, lead, nickel and manganese. It operates in South Africa, South America and Australia. The company has separated out its coal assets in South Africa...
Welcome to RiskMastery's Red Flag Stocks - Stocks with bearish potential.
In this edition, we'll be looking at ASX:S32 ...
I believe this code is at a point of potential volatility.
If price can hold below $3.24 ... Bearish potential may be unlocked.
My key downside targets include:
- $2.69 (Conservative)
- $2.45 (Medium)
- $1.955 (Aggressive)
...
JSE:S32 took off from the lows of R16.37 in March 2020 and went on a +230% impulsive rally to R62.50 that ended in March 2022 before price started moving sideways to correct.
Considering the latest price action, the instrument has been correcting in the form of a bullish flag and is currently trading at R40.80 above the 50 Day EMA after a double bottom structure...
ASX:S32
The chart for ASX:S32 shows a pattern of lower highs and lower lows.
This information is essential for investing and trading.
It is advisable to avoid focusing on this stock and instead focus on other options.
This will save you time and give you peace of mind.
#investing #avoid #trading #pwinvest $ASX:S32X:S32
South 32 (S32) was spun out of BHP Billiton in 2015 and contained all of BHP's South African coal assets. It is, in its own right, a diversified miner of base metals and minerals such as zinc, coal, aluminium, silver, lead, nickel and manganese. It operates in South Africa, South America and Australia. The company has separated out its coal assets in South Africa...
S32 appears to have set a cycle low on 26 June but then quickly went below it. We can expect price to push to break the resistance and close below it. We are watching the construction of a bullish reversal so this bearish thesis is not one we expect to last long, it can also have a violent move downwards as a convincing close below the support will psychologically...
South 32 (S32) was spun out of BHP Billiton in 2015 and contained all of BHP's South African coal assets. It is, in its own right, a diversified miner of base metals and minerals such as zinc, coal, aluminium, silver, lead, nickel and manganese. It operates in South Africa, South America and Australia. The company has separated out its coal assets in South Africa...
Since the Inverse C&H, the price broke below the brim level and since then has been on a downward trajectory.
The downtrend, was the other confirming indicator that this was about to drop.
I definitely didn't expect the drop to be short and explosive, but for a trader it's always better to be in and out.
Now, there will most likely be some chop in the...
Inv Cup and Handle formed on S32 and the price broke below.
Not the momentum is picking up and things aren't looking good for it.
We have other indicators...
200>21>7
RSI<50
Target 1 will be at R37.31. But I'll update as we go.
ABOUT THE COMPANY
South32 is a global mining and metals company.
South32 was founded in 2015.
The company was initially a part...
Price for S32 has formed an inclining resistance that forms a megaphone when read with the lower support line. It has also put in reversal candles around current price level. When price forms a swing high we will have further confirmation that price is beginning to trend downwards with an objective to close the short position when price forms a swing low near or...
Symmetrical Triangle has formed on South 32.
But we need to WAIT for the price to break up and out of the apex.
That will fulfil the Continuation pattern of the triangle.
Also you can see why we have to wait is because of the other indicators.
Mixed MAs
RSI - Middle
Target R58.34
WAIT FOR BREAK
ABOUT THE COMPANY
South32 is a global mining and metals...
South 32 had a stellar run from March 2020 to March 2022, almost quadrupling in price.
Price has since consolidated and looks to be forming a contracting triangle.
In this case, i view the triangle as a neutral pattern meaning it can breakout to the upside or downside.
Until I see a clear breakout I will sit on my hands on this one.
S32 is sitting on a trendline that has supported price since March 2020 lows. It needs to put a reversal here. However, there are 2 trendlines acting as resistance for price, price has also formed a symmetrical triangle which can break either way. The price to watch is the low of 26 September, if price goes below it then bulls would be forced to surrender and let...
Hello everyone, I would like to share an update on a personal trade I took last year in November on one of my favorite companies in the JSE.
I went long on S32(JSE)
So South32 has been in an uptrend when you look at the monthly timeframe of the stock. On October 1, 2018, the price rejected level 4466, which became resistance broken into and the market found...
The share traded quite strongly recently reaching around R51 before pulling back again. Currently is trading below yellow TL resistance but ideally would like to buy it for a long around 42.50 - 43.00 (TL support).
Should it overshoot, a better buying opportunity could be presented around R40.
