A bearish engulfing candle pattern has formed on JSE:EXX . This candle pattern also coincides with the top of a downward channel that it has been trading in for the last month. We can anticipate a move towards the bottom of the channel at around the 182 level.
A bullish engulfing candle pattern has formed on JSE:EXX . This is a bottom reversal signal, so we could see a move up to around the R22 level.
Exxaro resorsorces a continuation pattern is at play to the the upside
The stochastic, MACD and now the two EMA's are all showing possible signs of a short coming up on JSE:EXX . If it continues lower, we will enter short. Target around the 184 level.
EXX - Full Target Reached (R220) on the back of it's results. Original trade idea attached.
Update: EXX - high of day of 21922c, a few cents shy of the 22000c target. So far +6% on the day. Original idea attached.
Bull flag technical structure breaking on Exxaro, which may target 240.
Exxaro Resources EXX: Possible buy/long trade on trigger. How I'm seeing it: The 19000c level was an important demand-supply zone. The share found support and has continued to develop a potential bull flag. May be continue consolidation in ultra short term however, trigger is breach of downward trend line. Provisional Levels: Current: 19863c Target:...
- As per the previous post (link below) EXXARO consolidated and allowed the 20ema to catch up before breaking the flag and reaching a swing high of R240 - The chart has since printed what seems to be an ominous Head and Shoulders pattern .... - The neckline sits around the previous break level R191 (Range R191-R220) - The 50 day has also started to slope...
A short has been triggered on JSE:EXX this morning slightly below our desired level as it gapped down with the opening. We are looking for a move down to the 176 level.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
Exxaro has arrived at its previous swing highs. I will be paying close attention to how it reacts in the zone. Price may continue charging up or consolidate allowing the 20ma to catchup before making its next move... Original posts -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:EXX is looking good for a long position if it breaks the previous high formed on 20 Jan.
Exxaro spent a fair amount of time since Oct 2021 in the accumulation area (built a falling wedge) , flushing to a low of R144.30 ... Its now trending well upwards towards a likely test of swing highs (R190 zone) -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Price breaking out of this symmetrical traingle and closing above the EMA200. Decent spot for a long opp here. There is also a bullish MACD cross about to occur on the weekly chart. As always manage your risk
An excellent risk reward opportunity on Exxaro as the stock holds the 200 day EMA with a bullish engulfing candle close on Friday. With a short term target R190 and a stop loss at R158. The stock might find a bit of resistance at the 50 EMA.
- Price is pulling back towards an area of accumulation and possible support zone -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:EXX has been trading in an upward channel since the big gap that was formed towards the end of April. It reached the bottom of the channel and formed a bullish harami pattern as it reached the support level. This candle pattern is a strong bottom reversal pattern and could be a sign of a reversal. This, coupled with the bottom of the channel could mean we...