*A post to our client group a few minutes ago* Brent Crude Oil, $82.66 Appears extended to the upside (short term view). Noticing the following: Clockwise: 1. Frame 1: Hitting upper 2 Std deviation Bollinger band 2. Frame 2: Hitting 75 RSI (strong buy in overbought territory) 3. Frame 3: Closed gap and at overhead resistance 4. Frame 4: Price extended vs...
Yesterday’s highlighted resistance zone, which was also the prior day bearish fibonacci retracement area held, with sellers acting in accordance with Tencent’s weakness (Wednesday). The intraday selling pressure saw the price testing the bullish 50% fib zone which was followed by a 2000c rebound on an intraday basis, late in the session. Tencent is ‘flattish’ to...
An extract from this morning's research. TRADING QUICKTAKE: NG was one of our strongest performers, having been recommended at $2.66 in April, with a high of $6.46 printed by October. The commodity has retraced to $3.74 which is near the prior resistance and which could become ‘new support’. Also noted is the large falling wedge structure where a break of the...
Extract from this morning's research. Key levels available to clients. The short term falling wedge structure highlighted at the end of Dec-2021 has continued to the play out with strong gains for the first two days of the year. At current levels, the reward to risk on the buy/long side is less favorable with the share having entered the bearish Fibonacci...
*An extract from this morning's client research* TEXT: "Yesterday we saw the price trade strongly, continuing to push out of the larger falling wedge structure highlighted toward the end of last month. The upper end of the key resistance (R2514) was tested and breached on an intraday basis, with a high of R2528 followed by a close of R2511. Tencent’s lower, thus...
*An extract from this morning's client research* Yesterday’s ultra short term overextended level appeared to be unwinding with the index displaying a bearish close as per the candle structure (long upper wick). Further analysis also reveals the current level to be similar to that of the 4 prior +6% advances which were followed by either a consolidation or...
- Bollinger Bands - O/B and O/S Bull Bear zones - Distance vs 20-day MA - 50% and 61.8% FIB Retracement Levels (Preferred Action Zones) Full analysis available on request. For more real-time insights and trade ideas, get in touch today.
USDZAR - 4 Angles - Bollinger Bands - Bull/Bear Fib Zones - Trend lines and channels - FIB zone (bull and bear) For the full analysis as well as more real time insights, analysis and trade ideas, get in touch today.
Friday’s trading action saw a rally into the bearish Fibonacci retracement level of R2476/R2491, with the zone acting as firm resistance on an intraday basis. The daily gain also saw the previously highlighted falling wedge (a bullish structure) starting to play out although being in the early stages of development. Tencent lower in HK this morning could see NPN...
Observation Only. This monthly chart highlights NPN vs the JSE Top 40 (although NPN does hold a sizeable weight in the J200). My question: Is the recent 4-year RELATIVE sideways performance similar to what we saw from 2004-2008? What's interesting is the 14-month RSI at multi-year lows, with a print of 34 - the same as the 34 print in March 2008 when NPN...
Wednesday’s (full) analysis provided two opportunities to generate cash flow. Firstly, a buy on the morning drop to support, followed by a print into resistance which was followed by a sell-off. The falling wedge structure highlighted yesterday also remains in place, with the price displaying strong action during the session. Pre-market JSE, Tencent in HK is...
"The share has continued to trade below the downward trend line in place since the 17-Nov peak of R2796. At the start of last week we saw the price rebounding off the 2-Std Deviation Bollinger Band support. Following Thursday’s gap close and test of the declining 20-day moving average, the price has developed two consecutive days of lower highs but with the long...
For anyone that trades pairs, this is possibly worth a look...3-month performance gap has widened, among other factors. A pairs trade strategy is based on the historical correlation of two securities. When pairs from the trade eventually deviate—as long as an investor is using a pairs trade strategy—they would seek to take a dollar matched the long position in...
Roku Inc (ROKU, 233.00) | Testing lower boundary of multi-year channel + dips below the 200-day MA (see lower panel) have historically been buying opportunities. Vertical lines reflect 'overbought' and 'reasonable value' zones.
Trader Type: Intraday/Active Tencent (HK): -1.32% (08:14am SA Time) Chinese Tech ETFs (US Market). Friday, 17 Dec. KWEB: -0.20% CQQQ: -1.35% Chart Time Frame: 1-Hour Last: 236470c How I'm Seeing It: On Friday, the share rebound briefly off our initially support zone of R2411, trading higher by R39 intraday to R2450 before continuing it's decline for the...
Trader Type: Intraday/Active Tencent (HK): -2.87% (08:32am SA Time) Chinese Tech ETFs (US Market). Wednesday & Thursday, 15 & 16 Dec. KWEB: -4.41% CQQQ: -1.62% Chart Time Frame: 1-Hour Last: 246999c Value Traded: R3.2bn Volume Traded: 1m shares How I'm Seeing It: The 2478 support level flagged on Wednesday morning held twice in the session, providing a...
Trader Type: Intraday/Active Tencent (HK): -0.04% (08:21am SA Time) Chinese Tech ETFs (US Market). Tuesday, 14-Dec. KWEB: -0.84% CQQQ: -1.15% Chart Time Frame: 1-Hour Last: 250460c How I'm Seeing It: Yesterday morning the share spent the first 10-min trading slightly below out support range of R2468-R2477 before consolidating in that range for the rest of...
Following the recent candle character change (comment published and attached), CLS started find a decent bid and hit the 30793 upside level previously marked. That level was hit yesterday and today we saw another test with the level being rejected again. For more insights and real-time ideas, get in touch today.