RobbyP

RobbyP Updated 

After a strong reaction to their earnings release, it looks like traders are taking some money off the table. Momentum has shifted from over-bought conditions and we can clearly see the sellers are in control at the moment. To what extent the pull-back will continue is anybody's guess but at just about a 21 PE, I suspect the stock is probably on the expensive...

RobbyP Updated 

The time may soon be arriving to take a dip into the badly beaten PGM boys. Looking at the Platinum price (USD), it is obvious just how much pressure the metal has been under. There is a technical support level fast approaching and I think that level is close to $890.00/oz. Price action suggests over-sold now in the short term so a bounce from that level should...

RobbyP

This is the second time the pair finds resistance at around 19.30. Momentum has started to shift and this time it is dollar weakness rather than Rand strength. Coming out of over-bought territory now with some proper selling pressure overnight, I expect a ZAR rally back to test at least 18.50 from here. This looks like a nice little USD short opportunity for...

RobbyP

I know we have already taken some pain on the Top40 and it appears a relief rally is underway but recent price action shows that the 50 day moving average has now crossed the 200 day moving average (known as a death cross). While this does not necessarily play out 100% of the time, it does serve as a warning that the market is not ok. I would caution against...

RobbyP

It will be interesting to see if the "new" trend will be maintained with the USDZAR possibly finding support around the 18.35 mark. Looking at the momentum indicators, we can see the dollar weakness very evident with the pair starting to hit over-sold levels. This suggests we can look at entering a long trade on the pair on that trend line in the coming days......

RobbyP Updated 

I couldn't have said it better... "Bank emergency borrowing = tighter lending standards = small business credit crunch = higher unemployment... Tipping point for US$: end of Silicon Valley hegemony, start of entrenched high inflation & budget deficits" BofA's Michael Hartnett Technicals: Bursting strongly through the 50 day moving average with the RSI getting...

RobbyP

Not much to say about this chart except... R30.00. If the death cross plays out. We could very well see that level before they release earnings and what happens after that, well...That's anybody's guess.

RobbyP

Using the Satrix Resources chart, you can see just how much pressure the index is under. Having clearly broken below the 50 day and the 200 day moving average, the BEARS are now in control. RSI is weak and momentum is building more to the downside, I expect the index to test major support in the coming week or so at around R60.00. That relates to about 10%...

RobbyP Updated 

It's me and the banks again... FSR has been extremely strong and has stayed in overbought territory for an over extended period now. Momentum is waning and I think a decent dip is on the cards. Something has to give...We are starting to see price congestion with little to no impetus at these levels. I'm willing to wager that she bumps her head here at the 50 day...

RobbyP Updated 

The Q1 results were (In my opinion) very decent and showed Sappi's resilience in a very tough market- Sure the outlook is still pretty bleak, given the macro- economic environment, but looking at these results, Sappi did everything right. So WHY is the share down 7.5%????????????? HEADLINE EARNINGS PER SHARE +55% EARNINGS PER SHARE (SPECIAL ITEMS +50% DEBT DOWN...

RobbyP Updated 

The Top40 has come under immense pressure over the last week or so and after the weekend's news, markets are shaky. The index has not only broken support, but also the 50 day moving average, with the RSI looking very weak and stochastics showing heavy selling. I think any bounce near 71000 can be shorted for a continuation of downward momentum. The next level of...

RobbyP Updated 

TRU trading update was not as bad as expected however, Headline earning forward guidance is definitely weaker than expected. This means it's expensive at R66.00. The technicals show that the price is reaching overhead resistance which I do think will hold. We are in over-bought territory now so I do see the stock pulling back to that all important 200 day moving average.

RobbyP Updated 

We have finally got our pull-back! the stock has come down to meet the trend line. The trick now is to wait to see if it holds... It is getting a little over-sold but it still remains bearish according to the momentum indicators. If the price can stay above this trend line, I think it's worth a nibble for a small bounce back to the 50 day moving average which gets...

RobbyP Updated 

Now making it's sixth attempt at support after Steinhoff sold of more of their holdings, this one looks ripe for the pickings. getting very over-sold in the short term could mean that a bounce is imminent. I think it offers good value near R19.00 for a bounce back into the 20's. At these levels, one could quite easily place a stop loss just below that support line...

RobbyP Updated 

As shown on the daily chart, KIO has steadily been making lower highs from the boom period of 2021. This chart does not bode well for the price with their earnings due on 21 Feb. Momentum indicators are looking lackluster to say the least and from a fundamental point of view, I think supply chain issues and Eskom has hampered production and delivery. I have a...

RobbyP Updated 

I have been bearish on local banks since silly season ended and Investec PLC having outperformed thanks to the share buy back scheme, now provides the better opportunity. We are actually seeing weakness with some follow-through today. Looking at the momentum indicators, we can just start to see them starting to point south so I would be looking to short any little...

RobbyP Updated 

If you were fortunate enough to catch the rally, now would be the time to sell (if you didn't get out at the top). Today's price action suggests that MTN is breaking below the all important 200 day Moving average. Should the share price end the day below that, any follow through from there could likely see the stock drift lower all the way back towards major...

RobbyP

Anglo has had two attempts at getting back above the 200 day moving average. Both of which, have failed. This is very bearish indeed. I think you can short this stock even ahead of the dividend. Support is a long way down and just eyeballing the level from where we are, I think there's at least R80.00 to be made on the short side, if you include having to pay in...