Exxaro looks quite strong at the minute. Breaking into higher boxes with speed and momentum behind. The stock didn’t stay for too long in the 14000c - 16000c box. After it broke from the 12000-14000 box where it stayed for some time. The stock quickly moved to the 16000c - 18000c box. Now I’m waiting for the break through the 180 resistance to add into my position.
Exxaro is highly overbought on monthly, weekly and daily charts. Rising wedge forming on daily chart is bearish. CEO says they will be making no further investments in coal. 10 ships currently waiting to berth cannot off load due to lack of trains to Ermelo. This means we are importing coal, which is negatively affecting Exxaro. Will not buy at these levels and...
After a nice upward move all the way from late November, JSE:EXX is now showing some strong downward momentum and we could possibly look at a short position. The three main momentum indicators we use, the MACD, Stochastic and EMA's are all confirming this momentum.
Nice round the bottom as the share looks to break higher. I'm going to add into my postiion as we break 16550c
Nice uptrend channel as the stock broke out. On the Head and Shoulders pattern which got me in my initial trade. Seems like the stock has a defined line of least resistance. The stock continuously making higher lows and higher highs. When it breaks through the 16722c and again as it breaks through 17996c. My target for Exxaro remains 21240c for now
Head and Shoulder breakout on Exxaro
Another share with with resistance area, sell short on price below this zone.
A close below R124.50 triggers the short trade. Stop loss at R132 with 1st target at R118 and full target at R104.
Exxaro We have a potential head and shoulders pattern building in the share. The past 3 weeks gave us a classic 3 white soldiers pattern. The share broke the R128 resistance/support, if we close 3% above it on the daily chart at R131, we could potentially see the uptrend continue and the head and shoulders pattern play out. Weekly game plan: villagetrader.co.za
Our hesitation here last week here was the right call. Looking for confirmation of a long trade here now.
A nice Head and Shoulder Pattern on Exxaro
We took the long trade last week, although so far it's not working out. Stop loss is below the triangle support.
Close above R144 triggers the long idea of an inverse H&S. 1st target is R160 and full target at R210. This will require some serious legs if it were to pull through.
Bullish looking ascending triangle chart pattern on Exxaro daily chart; provisional levels on chart.