KoosKanmar

KoosKanmar

Rising wedge breakout. Fin retracement levels indicated below. Sideways consolidation and downside looks more likely the upside right now. Trade carefully.

KoosKanmar Updated 

Head and shoulders formation A break of the neckline could see a target all the way down to $32 Nothing goes in a straight line, so the expectation is that the neckline could be tested more than once before either breaking down, or even going up.

KoosKanmar

Bull flag breakout target 18250 Expecting some conolidation to set in closer to that level Be nimble

KoosKanmar

Two rules: 1.Don't lose money 2. Don't forget rule one This share is undervalued - Check Softbank is gradually reducing their large stake - Check This share had lost momentum to the upside - Check Break below wedge for a new 52 week low - Check

KoosKanmar

Added some Alibaba on support for a move to $85 If support is around $72 Stop loss on a close below $70

KoosKanmar Updated 

Channel break on volume. First target 19,40 Second target 21,91 Earnings report on 5 Dec. Watch out of for this.

KoosKanmar

Naspers has been consolidating in a +-20% range between the high and the low for 2023. Let's hope we get a Xmas rally to break the upper boundary limit and end the year on a high.

KoosKanmar Updated 

Very little room for upside before resistance is met. Neutral until resistance or an upside break is confirmed. Nasdaq had a terrific ,but hard run last week. Time for a breather.

KoosKanmar

ZAR depreciated from 5,60 to 1 USD to 18,36 to 1 USD in 17 years. The trend is clear. You're fighting a losing battle investing in local ZAR priced shares only.

KoosKanmar Updated 

I'll be looking for a retest of the support line break we saw yesterday If we're lucky we can see that this week still If the support like is retested but fails to break, it will indicate a good short position Target for a short position will be 13750. Lots of open air below. Waiting for a retest/break

KoosKanmar

I closed my short position on Friday. There is a little more room for downside, but we are basically on support. I will follow a wait and see apporach today and tomorrow. Top of the wedge will be the target if some market strength returns. If we break support to the downside, a failed retest of the breakout line will be a good place to short. I am cautious in...

KoosKanmar Updated 

Technical analysis dictates that a wedge formation in an uptrend usually breaks to the uspide. That does not mean we could not retest the bottom of the wedge 14650 again. I reckon that we could in fact test the bottom again. Small position to the downside, with a tight stop.

KoosKanmar

Just doing a fib retracement on the weekly showing that this is still early trend reversal days. This could easily extend to the 50%-60% retracement levels (8%-10%) The US money printing, low interest and cheap credit days are counted. The hangover after the party is the worst.

KoosKanmar

USDZAR tested the inverted head and shoulders neckline on 5-6 October If this neckline breaks, the target is 21,17. That means more fuel & food price hikes. With interest rates looking set to continue rising into the future, SA consumers is in for a hard landing.

KoosKanmar

I'm not a big head and shoulders fan, but it's there for everyone to see. It's generally very difficult to time trades based on these formations. It's just there as an orange light indication that I should approach with caution.

KoosKanmar

Big rejection bar at the 40 day SMMA. Some big moves in US treasury bonds indicating higher inflation for longer. You almost get the idea that bonds were lagging the market due to QE distortion. It's only now catching up, and flashing warning signals all over the place. Selling into streng for short positions seems like a better option for the time being. Be...

KoosKanmar Updated 

Nasdaq 100 futures is currently on support Expecting a little bounce here If support breaks, then next line of defence is a thousand points lower Markets look weak

KoosKanmar Updated 

So much for Chinese growth. Lost 42% of it's value since it's IPO day on 20 June 2020. Bought this in August 2023 with a channel break. This hasn't broken back into the channel again, but just a damp squib investment. Going nowhere slowly right now.