Price at prior support which is now resistance, as well as 61.8% Fibonacci Retracement.
In addition, a breakdown of channel should be monitored for a continuation of the downward trend.
CML Coronation Fund Managers | With decline (risk) asset prices, the bigger picture technical setup of CML still appears shaky, with the price knocking on the door of R40 – a level which has held for 16 months (remember, persistence often breaks resistance). Additional risks include, pressure on management and performance fees, stagnant business confidence,...
Potential Pairs Trade:
+CML/-SLM
- Recent price leg has not reflected new bullish regime on the RSI.
- Rounding and double bottom
- price above an expanding 8/21/50 EMA's.
Levels:
Current: 0.56
SL: 0.52
Target: 0.70
Coronation has been on a slippery downward slope since December 2014. The reasons for this have been twofold. Firstly, valuations were extremely stretched (end of 2014), trading at a market capitalization (mkt cap) to Assets Under Management ( AUM ) percentage of close to 7%, while the average international ratio (for global Asset Managers) was trading at around...
Coronation Fund Managers WEEKLY is down on its WEEKLY support. Support seems to be holding but we will have to wait for the week to finish. We also need the overhead DOWN trend resistance to break before we think about taking a position, we continue to monitor
We may derive the following from the Weekly CML chart:
1. Price has respected our support zone (purple box) (see linked idea).
2. Price should in all probability continue to move higher, but a retest of the support is possible.
3. Monitor price action and wait for a good long opportunity.
4. As always - maintain your risk.
Note: The views provided herein...
Coronation Fund Managers (CML) has seen it's RSI break up over the last few days, offering an early signal of strength and the potential for a short term recovery. Here, buy around current levels or better (4149c), using a stop-loss of 4030c and a take profit target of 4390c.
Coronation looks to be in a bearish consolidation on the daily.
A break of the R44 support area could expose its most recent lows around R39.
A bounce towards the upper channel cannot be ruled out though; but I’m favoring the bears here.
Once one of the darlings listed on the JSE, Coronation has been on a slippery downward slope since December 2014. The reasons for this have been twofold. Firstly, valuations were extremely stretched (end of 2014), trading at a market capitalization (mkt cap) to Assets Under Management (AUM) percentage of close to 7%, while the average international ratio (for...
We may derive the following from the Weekly CML chart:
1. Price is extremely volatile at the moment.
2. A distinct weekly support is approaching.
3. Price i.m.o should catch a bid at the support level.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
Support of R45 boken and confirmed as indicated - NOW NEW RESISTANCE
Next Strong Support - R39 - R40 - GOOD ENTRY POINT.
Should it break back through the R45 New resistance and confirm ----- ALSO GOOD ENTRY POINT to reach next resistance of about R55.
Wait before enter......
Coronation found resistance at the yearly pivot point after looking strong. It has now been in a steady declining trend. After some redistribution, it looks like the next push down has started.
