Quilter is in an interesting place, price action has reached the pointy end of a symmetrical triangle. Watching to see how this plays out, odds lean towards a bearish scenario & this would be cemented if price goes below R18.51. The 200DMA & 30DMA are also converging with the upper resistance, usually price finds it hard to break through double resistance, we have...
Mondi has a short-term resistance made from recent highs, price can continue to push higher & above the trendline but is expected to turn downwards. An opening of a short opportunity at rejection of resistance or at the forming of a swing high. Target is to close the short after price breaks the lower trendline. Expected time to reach the bottom is 15 to 30...
Multichoice price has been ranging between R109 and R125, price is trending down into a daily cycle low expected to be reached when price breaks below the pink support line. A swing low from this point is a low risk entry with price target R130. Ideally price should not break the low set on 7 September 2022.
Bidvest price action has carved a descending triangle as price seeks a low price on a monthly time frame. Price is expected to be forced downwards with initial target of R160 area where short position can be closed or sized down. The RSI is also building negative divergence showing price is due for a drop. Stop-loss: Price closing above the resistance line on a...
PPH is seeking to have a yearly low price point, 19 Dec price point is a contender, however the current price action is up against declining trendline resistance (pink) & price was rejected where this line intersects the 200 DMA & upper resistance of the rising wedge. There is a possibility of price having another go at the resistance after bouncing off lower...
Investec (INP) has shown increasing volume around R110-112 price level, if supply keeps elevated then price will begin to trend downwards. The RSI(14) is showing some negative divergence building up. A trend change lasting around 15-16 weeks will be fully confirmed if price at any moment goes below the blue line price R98.32. Risk averse investors can have this as...
DRD has broken out of a giant falling wedge. It is now in a zone that is good for accumulation. I expect price to move towards the upper line of the wedge & break-out. The macro-economic environment is increasingly favouring gold to outperform general stocks. Ideally one to trade & take profit above gain of 30%.
S32 is sitting on a trendline that has supported price since March 2020 lows. It needs to put a reversal here. However, there are 2 trendlines acting as resistance for price, price has also formed a symmetrical triangle which can break either way. The price to watch is the low of 26 September, if price goes below it then bulls would be forced to surrender and let...
Mr Price had an intermediate low on the pink arrow then made a higher low on the green arrow denoting the first daily cycle out of intermediate low. A bullish cycle would have been supported by price not going lower than the green arrow. What is the expectation: 1. Price remains bearish restricted by the green trendline 2. A rejection on that green line with a...
Pick n Pay price has fallen out of the rising wedge and has made several attempts at re-entry without success. Now watching price action into ex-dividend date likely to result in a top & see price move downwards. The downward pull is expected to drive price to or below the blue trendline. If price goes below the blue trendline & goes lower than 27 September it...
Sibanye-Still Water has had successive daily candles showing strong selling pressure around price level of R47. The expectation is for this pressure to culminate in a breaking of the wedge support. The price target where a short position can be closed is the blue trendline with a drop of +/-10%.
My Background I was a young man working for an Insurance company and being a quiet trouble-maker with a healthy affinity for analysis of numbers, I was thrust into a position that fed this desire to the max. My boss then told me, "Runya in this job you must have a sixth sense, insurance agents earn commission and if they get a chance to falsify numbers to get...
Blu is due a yearly low price, 9 May 2022 is plausible but not ideal as price has retraced most of the gains since then (black arrow). A strong cycle is one where higher lows take place for longer. If Blu can go lower than black arrow it would be most ideal setup for a thrust higher to recent highs. A double bottom on the green arrow is next best thing but would...
Here is another poor man’s gamble (low price shares that can have periodic violent moves up). - The vertical lines show areas of bottoming. - The arrow measures number of days from bottom till violent move. - Check positive divergence on RSI(14) from low till move occurred. - Check higher buying volume. NB: These are high risk small caps so one must not be...
This is a small cap which requires less capital deployment (a poor man's gamble), price has been trending downwards & currently battles are set on key support lines. In terms of time this looks to have less than 8 weeks if it wants to move downwards. I will be watching for a drop into the rectangle and forming a swing low. Ideally price must go lower than 45 cents...
Though price made a low on 29 September 2022, the volume on the advance is not convincing of sufficient buyers, for comparison look at move out of 7 March 2022. In the short-term price might move to the upper trendline. If price reverse quickly and go lower than 29 September then it will be a good short entry. One could attempt a long position to the trendline for...
AngloAmerican is hitting a resistance trendline that has halted uptrend before, the expectation is for price to trend down with an objective target of the upward slopping trendline below. Savvy traders can switch from long to short & add to the profit on price trending down then switch back to long when price breaks the trendline.
Murray & Roberts has been in severe downtrend but is now approaching a purple patch (rectangle). In the box is a confluence of support where 4 lines intersect. A weekly swing low from these levels could bring a flurry of buyers chasing the share. How to play the potential: 1. If risk accepting one can open a 50% position at current level (R-2.50-2.70) 2. Deploy...