StarChaser74

StarChaser74

Sappi is in process of completing the 4th Elliot wave and expected to bounce of 2728 before commencing with the final upward wave estimated to consolidate at the 4074 to 4163 price level. Wave 3 was met with resistance, which served previously as support on 27 September, 14 & 15 November 2019. The 4074 level was fierce resistance during the period 16 October to...

StarChaser74

Looking at Tongaat, it currently trades in a downward channel and closed Friday below the 20, 30 and 50 MA. Monday, earnings will be released and it would be a good level to enter should the price break above 567 and confirming a long position. Should it break, it will find some resistance at 604 and 668. After that it should run quickly to 801 and then 955...

StarChaser74

It looks like Napers is currently trading in a bear flag after falling 9% from recent highs of 327770 to 298000. The past week the 50 MA served as support for a tired looking Naspers - the 20 MA crossing down the 30 MA. On Friday, it closed just above the 20 MA. One to look at this coming week. Should it break below 50 MA, it might see 268108 and thereafter...

StarChaser74 Updated 

Sasol ended the week (15 May 2020) on a positive note completing wave 4 of Elliot wave. It also ended above the 10 and 20 EMA. Taking the upwards trajectory of oil into account, the next week could be the start of the final upward wave (5). If it breaks up, target price to complete wave 5 is +/-11600. My trading idea should not be construed as financial advise.

StarChaser74 Updated 

Murray Roberts closed above previous resistance and RSI crossing the 30 scale upwards indicating a possible reversal. The hammer type candle (25 May), indicates after a strong opening above resistance with sellers trying to push the price back down but strong buying pushed the price through key resistance to close 16.53% higher for the day (short wick above with...

StarChaser74 Updated 

Update from 20 May Aspen post, I indicated that Aspen looks enticing for a further move higher. My view remains. Today Aspen closed above the 20 MA on current resistance of +/-14060. It probably will first move lower tomorrow to support before attempting to break resistance early next week. This is key resistance of the neckline of an inverse head and shoulder...

StarChaser74

PPC broke out nicely above the 5 day MA with RSI now above 30 level and ATR at low point. Nice gap to fill upwards to 50 day MA (118 price level). Breaking 118 levels, we can see previous resistance being retested at 180 levels. Entry 83, stop 63 with full target 176. Reward to Risk ratio 4.5. Disclaimer: My analysis should not be construed as financial...

StarChaser74

SSW hit resistance last Wednesday and retracted back to the bottom of the channel. This morning it hit support and the 50 day EMA held. Currently it seems buyers are stepping in. Perhaps the start of the next rally to the top of channel. One to keep an eye on. Disclaimer: My analysis should not be construed as financial advise. Share trading is risky and...

StarChaser74

Aspen (APN) met some resistance at 14075 the past 3 sessions. Breaking this resistance, I will be looking at entry between 14500 and 15000. Target 1 : 15733 | Target 2 : 17219 Stop at 12300. Longer term target should share trade above 50 day EMA, possibly 28063. Nice gap fill from Target 2. Disclaimer: My analysis should not be construed as financial advise....

StarChaser74

Telkom almost closed today on key resistance of 2112. Sellers tried to push it below the 20 day EMA but failed. Will have to see if it can break resistance this week especially the 50 day EMA at 2177. It tried to break through the 50 day EMA on 15 April but sellers pushed it down through the 20 day EMA. Once we clear 2177 convincingly, it will afford a buying...

StarChaser74

The Bulls pushed BHP Billiton out of its sideways range with very strong buying. It has been trading in the range for the past month and a half. Wait for it to pull back with key support at 32100 (previous resistance). Once its making higher highs, next resistance should be at 35100, 36600 and 37600. Above both the 20 and 50 day EMA. My analysis should not be...

StarChaser74

Although Implats (IMP) closed strong on Friday (15 May 2020), it failed to break the current downward resistance (symmetrical wedge). It also seems to struggle to break the 50 EMA convincingly (10 EMA < 20 EMA <50 EMA). Price is range bound between 9700 and 11600 and will first need to break 11600 convincingly for a long entry. There is still time for movement...