Sanlam SLM (Last Close 6206c) - Considering The Potential For An Ultra Short Term Bullish (Buy/Long) Reversal. Pre-Market View. Last week Tuesday (pre-market) the provisional sell range was 6820-6860c. The share traded into the mid-point of this zone (on the same day) with a print of 6840c and as at yesterday's close, declined by 9.2% or -634c. Yesterday's...
SLM - last week Tuesday I published this short/sell for clients, based on: 1. A 'near overbought' rating 2. Test of 61.8% FIB. From ~6800c, we are seeing a print of 6400c (down by 5.8%). Not a high conviction level to go long but we could see it rebound moderately as it back-tests the trend line breakout and nears the incline support. Now 6394c, this may be a...
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.
A piercing line candle pattern has formed on JSE:SLM . This is a good bottom reversal signal. If it plays out, we could be seeing a nice upward move from here. Target levels at the highs from mid-Feb.
SLM broken out of a long consolidation and retesting the previous resistance. First target will be R72 and second target R80. Trade ideas are my own and not financial advice.
An inverted H&S is forming on JSE:SLM . It hasn't quite reached the neckline, but it could potentially do so soon. Our momentum indicators are also showing a buy signal. If it breaks the neckline, I will enter long.
The following content is an extract from this morning's client research. In terms of single stocks, one of my ideas is a local pairs (market neutral) trade idea from the commodities/mining sector. For more insights and real-time ideas, or if you are considering an alternative trading services provider get in touch today. Another chart/insight published to...
Price breaking higher out this triangle and closing above the EMA200. There is a key technical SR level at 6500 and price needs a close >6550 to show continuation of bullish price action. Good spot for a long pos here. Always manage your risk
- After the previous trade going to take profit, price and retreat back to a level which presents a good opprtunity to go long again - SL and TP on the chart - Previous trade in link below -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
SLM been trading in a range between R60 and R65. It is trading at the bottom of the range. If a reversal takes place here it can go back to test R65 again. Trade ideas are my own and not financial advice.
I've taken a position in Sanlam at R62.52, expecting it to break 20% to the upside within the next 6 months. I have a stop loss at around R54 - which will confirm a lower low. At the moment, I am seeing an ascending triangle formation with strong resistance at R65, and higher lows after each pullback. I believe it will break to the upside as this is a bullish....
- Price has pulled back to the 200 day moving average and up trendline which offers a favourable entry to target the highs - Stochastics in oversold territory -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
SLM pulling back to support and its 200dma. A reversal up from these levels it can rally back to resistance at R64.50 Trade ideas are my own and not financial advice.
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.
There is a nice ascending triangle setup forming here. Price is currently testing the 200WEMA which is acting as resistance with the trend line, A close above 6500 and a long position can be initiated with a ST limit at the Jan2020 highs at 7880. This trade has good RR, and the LT trend is still up. As always manage your risk. Good luck out there
SLM weekly chart. SLM pulling back to support in the form of a flag. If triggered we can see a bounce to resistance around R64 - R65 area. A break above that then R70 as second target. Ideas are my own and not financial advice.
SLM is still within it's ascending triangle formation with a potential to test the lower trendline. Short term R60 seems to have held but a move close to R58 could be a good entry with previous swing lows at R54,40 as a stop loss while a move above R65 will trigger the breakout on this pattern.