UnknownUnicorn3689126

UnknownUnicorn3689126

The MTN share price has steadily improved since creating a low of R75.05 in February. The recent uptick has seen it touch a short-term high of R111.23. The upward momentum seems to be reducing however, and the stock has struggled to break above the R110.00 horizontal resistance. This solid resistance could potentially form a turning point for MTN. Especially...

UnknownUnicorn3689126

Bidvest has been trading in a range between R212.00 and R192.00 since November of last year. Since the stock is now getting close to trading at the lower end of that range, it could be a good idea to go long on the company. I would, however, prefer to get in at a lower price than where it is currently trading. I would thus advise to put in a limit order closer...

UnknownUnicorn3689126

Sasol fell sharply when news surfaced of further overspending at its Lake Charles facility in Louisiana. But, with oil on the rebound, it might be a good time to buy the stock at these new lows. As you can see from the above chart, there is a big gap between price on 21 May 2019 and 22 May 2019. In technical circles, there is a common saying: The price always...

UnknownUnicorn3689126

Since August last year, Mr Price continually found support at R205. In March, the stock broke through support but recovered back to R224.54 in May. This is a currency sensitive share and the rand blowout has now pulled the price back through the previous support. The current downtrend is gaining momentum and making me very pessimistic. The MACD is also trading...

UnknownUnicorn3689126

For the best part of the last six months, Bidvest Ltd has been trading in sideways range of between R212 and R192. It recently broke above R212, going all the way up to R224.58 but didn't manage to hold the level. The stock is now trading back at support around R192. It is interesting to note, while the stock is sitting on support, the Slow Stochastic is also...

UnknownUnicorn3689126

The FX:USDJPY currency pair is looking increasingly bearish. There was a small bearish divergence between price and the MACD before a break of support occurred at the 110.000 level. The 3 EMAs briefly went into a bullish sequence but is back in a bearish order with the 50-day EMA below the 100-day EMA which itself is below the 200-day EMA. The Slow Stochastic...

UnknownUnicorn3689126

Reinet Investments S.C.A. has spent most of this year trending higher. Towards the end of March, however, the stock lost its momentum. If you look at the above chart, you'll also see a bearish divergence has formed on the MACD. Although the high created earlier this month is lower than the one created in March, there is a much bigger difference in the high...

UnknownUnicorn3689126

Between October 2018 and March 2019, JSE:CLR went on a strong bullish run. Since then, the stock has been running flat. More interestingly, though, a big bearish divergence has formed between price and the MACD while also breaking the upward trendline. The Slow Stochastic indicator is also trading well below the 50 level at 34. This is indicating weakness in...

UnknownUnicorn3689126

The FX:USDZAR currency pair is currently in an ascending triangle pattern. Conventional wisdom would have us believe that the ascending triangle pattern is a trend continuation pattern but in my experience, its can go both ways. It all depends which line gets broken and I think it will be the support line this time round. There is a bearish divergence on the...

UnknownUnicorn3689126

Firstrand has traded in a range between R60.00 and R70.00 for almost a year now. Only on a few occasions has it broken out of this sideways channel and, even then, only for a short while. But, if you look at the MACD, you would notice a bullish divergence has formed. As FSR 's share price kept retracing to R60.00, the MACD continued to make higher lows. This...

UnknownUnicorn3689126

Mr Price has had a mixed year so far. In January, it dropped a massive -16.69% in one day falling from R259.14 to R215.24. It then spent the next two months trading a range between R205.00 and R225.00 before finally dropping to R180.00. Since then, the stock has discovered some bullish vigor, running all the way up to R221.82. The MACD also broke above the the...

UnknownUnicorn3689126

When looking at a chart of the JSE Ltd , the technical indicators are looking increasingly bearish. At current levels, the stock is also at a good level to sell and open short positions. But let's analyse the chart in more detail. The first thing to note is that there was strong support at R148.00. The stock has now thoroughly broken through that level. All...

UnknownUnicorn3689126

Anglo American Platinum Ltd have had a good run of it over the last year. The stock has been very bullish but it would seem as if it has run out of steam and momentum. As of the end of February, a big bearish divergence have occurred between price and the MACD. Since the formation of that divergence, JSE:AMS has also broken through support at about R720. It...

UnknownUnicorn3689126

JSE:BAW is currently trading at a tantalizing level for a long trade. The R128.00 acted as strong resistance for the first 2 months of this year and it would seem as if it recently held up as good support and it is trading at this level once again. On the moving average front, the short-term EMA has crossed above the long-term EMA. The medium-term EMA is well...

UnknownUnicorn3689126

Mondi 's share price struggled in the final quarter to 2018. In September, it created a high of R424.37 and then spent the next three months heading south. It eventually made a low way down at R285.20. It has since bounced back a bit. But the question to ask: Is this a change of trend or just a natural correction? Let's turn to the chart for answers. The first...

UnknownUnicorn3689126 Updated 

After creating a high of R414.90, Kumba turned bearish between January and April of last year reaching a low of R259.21. From there the stock has been trading flat, sticking predominantly to a range with a top at R325 and bottom at R260. Kumba recently looked to break below support but it turned out to be a false break and price quickly re-entered the...

UnknownUnicorn3689126

After creating a high of R77.25, Firstrand dropped to R55.00 before bouncing back up to just above R70.00 a share. Since then it's traded sideways. It seems to have found resistance in the area between R72.00 and R69.00 while support kicked in somewhere between R62.00 and R59.00. Over the past few days, the price reached the lower end of the resistance range...

UnknownUnicorn3689126

Shoprite hasn't had the best year. In March it created a high of R281.90 and then proceeded to crash all the way to R174.50. Interestingly enough however, Shoprite has created a cup-and-handle pattern over the past two months. This is a common bullish pattern and indicates a change in trend. If you look at the chart above, you can see how Shoprite formed...