We have a nice symmetrical triangle on JSE. Looking quite bearish the moment. The resistance held yet again. Waiting for a break to the downside. The exchange has quite a few delistings
There is an active resistance at 11820 with a 21 MA and it seems price is falling towards support 10295. Thank you, -have a pleasant day. All of my market shared technical set-ups are speculative, they are not guaranteed for accuracy or in completeness in the form of any content. At this profile page, the analysis, ideas and also, the strategy of a chart belongs...
We have a descending triangle pattern on JSE after share respected the 200 day EMA
Will that downward price momentum support the price action back to its 200-day sma. At a key pivot point. See the trendlines.
- Price is reaching a major down trendline - Will look to see sellers stepping in here -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
The JSE ticker is currently testing an upward trendline from the weekly chart. If prices respect this trendline, we can look at potential buy trades. If price breaks below this trendline, we can look to short this market.
We are forming an inverted H&S on JSE, lets see if it will go up
JSE has been following a declining trend in a series of stepping stone redistributions. We have again had a test of the previous breakout level and the downtrend is set to continue. There is significant volume on down bars and divergence with the volume RSI.
JSE Ltd - consolidation to break shortly? - MACD positive - RSI breaking up - now 55 - Bull flag - 200-day at 14058c
JSE coming up against some stiff resistance after losing TL support. There is a small gap to fill higher up though should it manage to push higher.
Adding to current position. Targets 13660, 14211. Stick to a stop loss if we break back into the flag.
Waiting for this flag to break to add a second batch to current position.
We may derive the following from the Weekly JSE chart: 1. Price has found some support on the weekly channel bottom. 2. It is possible that price may move higher and test the channel middle/high. 3. Monitor price action and be patient before trading. 4. As always - maintain your risk. Note: The views provided herein do not constitute financial advice.
Add half as close to the bottom of the flag and another half position when the flag breaks. Targets 12970, 14200. Stop loss if price pierce bottom of flag line on a daily close.