In the pipeline is seems Coronation is forming an Inverse Head And Shoulders pattern. We seem the upside potential on the JSE based on the last analysis I did. The first target will be to come down a bit, break above the neckline and then head to R41.58
How the mighty have fallen. Since reaching an all time high back in January 2015, CML has been in a strong bear market. The decline from R115,20 to R24,36 can be labelled as an (ABC) zig zag. Like many global stocks, CML found a bottom in March 2020 after the covid-19 sell-off and this was followed by what looks like a five wave rally to R55. If the bear market is...
Price is moving off oversold conditions Looking for a move to target the top of the falling wedge Stoploss and target on the chart NB. Any pullbacks below yesterday's close will give a more favourable risk /reward
Is #CML #Coronation a buy at these levels? Well on a weekly graph, over the past couple of years this share has traded in a descending channel. We are currently just below the mid-point of this channel. Image 1 TD indicator on the weekly chart shows extreme oversold levels and we have reached a perfected 9. Image 2 The stochastic indicator shows extreme...
- Coronation is currently very oversold with a decent consolidation at the ambush zone (0.5-0.618 retrace) -Looking for pullback in the current short term downtrend - Stop-loss below R36.50 -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
A bullish trend is applicable above 5000. Testing its 200-day simple moving average. Upside price momentum supports the bullish trend. RSI leaves enough room for further upside price potential. Swing trading is a speculative strategy where traders buy and hold shares to profit from expected price moves (see the blue arrows).
So watching CML closely here to, properly close that gap and subsequently close above 5260 for a possible long or to add to the position. Making a series of higher lows in recent trading days.
The symmetrical triangle pattern that fail 2/3rds in turns to fail as a continuation breakout. It usual signals a reversal. That happens to be bullish for the Coronation as the stock holds the 200 day EMA as support. Closing today with a bullish engulfing candle. Still waiting for a close above R52.55 to add to my position.
Time for a relook at the Monthly chart of Coronation Fund Managers Ltd, after I identified what looks like a falling wedge about two months ago. A guru in the financial world described $JSECML as a good proxy for SA Inc some time ago, but while the SA TOP 40 for example has not made much headway over the past 5 - 6 years, this counter has undeniably been in...
The stock broke out of the “war’s” range with a bullish engulfing candle. Engulfing pretty much the entire range. Closing back above the 50 day EMA. On Monday 30 August 2021 Good time to start building a position with an anticipation of the head and shoulders trade.
A death cross is when the 50 day moving average crossed below the 200 day moving average. This is what has played out on this stock over the last few days (maybe they held a lot of Naspers). This is one of the most bearish signals. I wouldn't be surprised if we saw a sharp move lower back to the R40.00/R38.00 levels.
Increased confluence of a bearish bias. Possible M-Top pattern is also busy devloping. Negate short trade for a break above 5534. Major support around 5335. Exit trade by +/- 24 May 2021.
CML pulling back to to support in the form of a bull flag. The company also released a trading statement on 23/04/2021 if well received and price can stay above R53 i am looking for R56 and R60 as possible targets.
This is what I'm talking about. Nice break of a monthly resistance
LONG POSITION TO RESISTANCE LEVEL 8557