Innocentmaponde

Innocentmaponde

Bull flag break on GFI's daily chart; I'm calling it 300!

Innocentmaponde

Pennant structure break on Kumba's #WeeklyChart which could target 720ish next. But first there is resistance around 580-85 that bulls need to push through to expose 720.

Innocentmaponde

Sibanye down more than -20% after announcing plans to issue a $500 million convertible bonds to acquire recycling operations in the US. Technically the share has breached the 20-22 support area. Next support comes around 14-15, an area just below the Covid-19 lows. #WeeklyChart

Innocentmaponde

Truworths #WeeklyChart points to 100. It's overbought on lower timeframes though, meaning a pullback is possible in the short term. A retest of the 70-76 area can be used to establish a 'long' position with a profit target of 100. #WeeklyChart

Innocentmaponde

Mr Price attempting to cross back above its 200dma. A reversal double-bottom technical pattern in formation, which, if confirmed, could target 170 next. But first, the 150ish resistance area needs to give in!

Innocentmaponde

Bearish triple-top chart pattern on Prosus could target 450 next. Price currently attempting a retest before a further (potential) move down.

Innocentmaponde

Sasol been making a series of 'high lows' and now needs to clear that 255-265ish resistance area to expose 320 as the next possible target.

Innocentmaponde

A bearish Head & Shoulder pattern unfolding on Anglo's weekly chart, which may target 300 in the medium term albert with some support levels to be overcome along the way, with the 1st one being the 400-420 area, followed by the 330ish area. Either way, I'm calling it 300! *This is a medium-long term play.

Innocentmaponde

Dax heading for 14,000? Looks like it as neckline support has been breached. It's a rounded top chart pattern in play!

Innocentmaponde

FSR currently sitting on critical support area going back to December 2021. Should we lose that 59/60 area, we may get further downside to 45.

Innocentmaponde

It looks like MTN still has more downside to do. We have a technical double-top chart pattern that can target 80-85 in short-medium term. Note how the double top pattern is part of a larger (bearish) descending triangle chart pattern whose measured target I'm scared to calculate! Price is currently oversold on the RSI meaning we may get a short bounce. I would...

Innocentmaponde

Descending triangle technical structure on weekly chart points to 'covid-19 lows'. Scary I know, but that's what the chart is suggesting!

Innocentmaponde

MTN could be onto something here! A break of that flag/wedge structure could push it to the 150-160 range.

Innocentmaponde

A break of trendline support as well as the 200dma just below it could see the USDZAR weaken to the 16.50-17.00 range. I would use a break of 18.00 as entry trigger to establish a 'short'.

Innocentmaponde

Bull flag break on Shoprite points to 250; but would wait for a slight pullback before initiating a 'Long'.

Innocentmaponde

Bull flag structure on Naspers weekly chart targets 4000; medium term. But it first has to be confirmed.

Innocentmaponde

A promising break on Sasol which could target 270 in the short term. But 280 remains the area that buyers need to reclaim to change the trend. Coincidentally that 280 is also were the 200dma is.

Innocentmaponde

Break of Pennant technical structure on Kumba daily chart may target 560-600 in the short term