After breaking from a very defined channel between 4500 and 3900 in mid January the share moved strongly to around the 5275 levels from where it started to consolidate in what looks like a bullish flag pattern. A break of this pattern would be very bullish and would be an indication that the price target of 6000 is within reach.
Coronation looked good to break into the 5200c - 5600c box. I’m waiting for a close above the 5275c multi year high. The last time we closed above this level was in April 2019. When we get a close above this level. I will add to my position. As this means the stock has cemented itself in the 5200c - 5600c. Then pull my stop loss order to 4880c from 4722c. Trade...
More upside if CML can break and close above the ascending triangle.
Coronation Position Average entry: R49.25 Stop loss: R47.22 Quantity: 47.3 Risk: -R96.02 (-1.32%) The stock has been moving nicely currently in the R44 - R52. We are looking to add to my position as the stock moves to the R52 - R56. At the moment R48.62 looks like a good place to put my stop. Which will reduce the current risk exposure to about R30 (0.4%) of my...
Position Average Entry: R49.25 Quantity: 47.30 Stop loss: R47.22 Risk: -R2.03 Current Risk ZAR: -R94.02 I’ve been in the trade for some time now. The stock is looking good piling up the boxes on the way up. Currently looking to break to the R51 - R58 box from the R44 - R51 box. We have a nice looking bullish flag on the stock at the top of the R44 - R51 box....
Nice bullish flag as the stock moves into a highr box. I will add into my position on the stock
The stock broke the 200w EMA. came back to retest it. and stayed above it. Looking good to move higher 51-58 box
Coronation seems to be making up for spending quite some time in the box 3700c - 4400c.. The stock broke to the 4400c - 5100c box and quickly closed into the 5100c-5800c. I’m waiting for a confirmation, a close above the 5263c, then I will add into my position with a stop half way through the 4400c-5100c box.
Coronation is currently testing the upper resistance level of this channel at 4500. Keep an eye on on this level. If it breaks we could possibly see the share targeting 6000. Wait for the break confirmation before taking a position.
- Coronation broke out of a channel consolidation and has come back to test the level... - Price action is promising and i'm looking for a continued move up from here, possibly to R56.48 - R57.66 - A close below the 200 day moving average will be bearish -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
On a weekly chart Coronation looks like it's breaking back into the longer term channel of 4900-3600. If it can manage to break out of this channel convincingly then 6000 could become a target. Neutral until then.
Coronation has been stuck in the R37 - R44 range for a little over a year now.
$JSECML has broken the resistances.
Coronation looking like it wants to break out. The share has been stuck in the 4442c and 3771c range for a long time. The 30 Week EMA is only 66c away from crossing above the 60w EMA. A close above 4575c confirms the trade.
JSE:CML - Looking for a break below 3850 (Weekly close) and 3039 is possible
MACD bullish crossover might trigger further upside potential.
Coronation holding on for now. Next downside support, should it break to the downside, is around 34.35. Breakout to the upside is a close above 45.60
Coronation Fund Managers (JSE:CML) held a massive level of horizontal support between R38 and R39 since the early weeks of 2019. After testing this level on numerous occasions, the bears finally got the final break in March this year, which pushed the stock as low as R25.00. Since bottoming out at around R25, the stock has spent the last couple of weeks...