SSW hit resistance last Wednesday and retracted back to the bottom of the channel. This morning it hit support and the 50 day EMA held. Currently it seems buyers are stepping in. Perhaps the start of the next rally to the top of channel. One to keep an eye on.
Disclaimer: My analysis should not be construed as financial advise. Share trading is risky and...
- Price has come back to retest an area of interest for the bulls
- If this level successfully holds, we can expect a measured move equal to the height of the head.
- Below R32 i will be bearish on the chart and it will open the possibility to trade a "failed pattern" (Wider SL can be the 200ma)
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and...
Trend all above the rising 50d, what appears to have a inverted H&S formation. Falling flag against the primary trend which is higher. RSI holds steady in the bull range.
my plan
1.I will Wait for the daily candle to close
2. I will go on the 1h chart and draw a counter trendline break above it would mean buyers are in control
3 .keep risk to a minimum
you can also just buy equities
break below would mean sellers are in control
The aim of this analysis is to determine a clear and defined entry point or buying price for the shares of SSW as the share price declined due to the impact the recent pandemic outbreak has on the global economy and which affects all the sectors and industries in the ecosystem. The upside is that it resulted in most shares losing more of their value which creates...
SSW is undergoing talks of M&A exploration in the gold space, which is perhaps why we saw such a steep sell off lately. Look to go long under R39 with a stop loss at R37. Potential targets are R42.5 and R46.5 for a more aggressive risk/reward setup
