- Price looks to be breaking the recent downtrend
- Oscillators are turning up
- It could be a good time to stock up for the Xmas rally!
- -- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
I'll probably add WHL (last: 5443c) to Monday's report, among others. In the meantime, I was looking at the name on Wednesday and saw a massive spike in volume . Today, there's a long tail suggesting further buying interest into this downward trend which now sees the price near the prior breakout. What also interests me is the price nearing its 1st back test of...
Wait for the outbreak and re test. cause if you do not wait you risk 32% to gain 70% which isnt bad at all..
1/2,5 risk ratio
but definitely bullish going forward. year 2022-2025
JSE:WHL has ticked all of the "indicator boxes" to signal a short trade. The EMA's crossed on Friday last week which was the final trigger sign along with the Stochastic and the MACD crossing downwards a few days earlier.
Today, so far, the price seems to be slightly up, but if it breaks through the lows formed on Friday, I will enter a short position.
There is another flag/pennant setup occurring for a chance to add to an open position or buy the stock. The trend is up the but volumes have dropped of slightly in days past so err on the side of caution and apply your risk management. Next limit 6700
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 nice bull pennant forming in woolies as price pulls back in this uptrend. Short term target R61 with longer term R65. Risk mamangement is key as always but there is good R/R in this setup.
price entered a steady bullish trend on the 29th of Jan 2021. After once again rejecting off of the R52.50 resistance area price came down to break through its just over 3 month bullish trend support also shifting from creating higher lows to creating lower lows. price is currently retesting trend resistance ( support that was broken through) entry will be...
WHL is currently doing volume at R49.50 and has had a seller at R50 for the last couple of days. As long as swing lows of R47.30 hold the trend is intact. Above R50 a long trigger is on.
$WHL eventually breaking out of that resistance which was prior support at @5003 with a strong close above the weekly EMA200. I am already long the stock at @4900 and will be watching for a setup to add to my trade. An uptick in volumes with a MACD cross are indicating higher prices in this ticker.
