Looking at Investec, we may derive the following from the daily chart: 1. Price broke its uptrend at the end of June after then returning up higher. 2. Price made a lower high. 3. A double top has already occurred. 4. A move to the downside is probable. 5. As always - maintain your risk management. Let's see what happens. Note: The views provided...
$JSEINP Rolling over on the hourly - H&S still targets R80
JSE:INP has closed below an ascending support level. I will wait to confirm before entering a short.
I used the spike higher today to add to my short (re-enter the half I took off/banked last week)
I have banked profit on half of my position as the price closes above the 20SMA on the hourly. The gap around R88 also concerns me, as we have also not seen a re-test of the neckline. The trend is still bearish and the H&S still valid. I continue to hold half of my short position and will look to add should we see a re-test of the neckline around R88.
We have been trending down here as shown by the PIVOTS opening lower each week This week we are looking at opening higher for the 1st time This is one to watch I would trade the breakout and retest of the POC if we break through in the week Great stock to watch
JSE:INP Making inverted head and shoulders with neck line around 9500. Break above 9500 will target high around 10500.
JSE:INP formed a Bearish Harami at quite a strong resistance. This usually indicates a change in direction, so we can expect a downward move.
Rolling over again on the hourly - adding to current short position
Update: After a false break to the upside - short idea looks on track
Reversing on the hourly - 200day = resistance
Investec has formed a Trading Range (TR) after Preliminary Support (PS), Selling Climax (SC), Automatic Rally (AR) and Secondary Test (ST). There has been low absorption volume in Phase B and we have now seen a spring and test in Phase C. After the test is done we can expect a markup in the TR in Phase D to the top of the TR.
Short hasn't gone according to plan so far - BUT daily chart has formed a rising wedge. Currently testing upper resistance which coincides with 200 day MA.
Investec PLC remains one of my favorite picks for 2019. Not only should we see value unlocking through its planned unbundling of the asset management business, but most analysts forecasts (Source: Thomson Reuters consensus) targets the share price, 25% higher in 12 months. Technically, we’re seeing a nice little turn in the 50-day moving average (from downward...
Hourly close below R87.50 triggers new short - Target = R85. SL = R90.50. Full/larger target = R79
Investec plc is an international, specialist bank and asset manager that provides a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa, and Australia as well as certain other countries. Investec plc is the controlling company of the majority of the group's non-Southern African...
After Monday's double top played out - the hourly chart is now in the process of forming a H&S = confirming LT short idea (see daily chart). Will add to my position (again) on a hourly close below R84.70. Target = R78, SL = R84.70