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TAKE PROFIT HIt - JSE ALMI at 72,603 in 2 daysWe got in on Thursday 6 April 2023 at 71,540. This was based on an Inverse Head and Shoulders formation along with an Order Block of buying from smart money in two different places. Then there was a public holiday on Friday 7 April then it was the weekend and then another Pubic Holiday on 10 April.... Technically, we've only been holding this trade for 2 days. SMC The price came back down swept Sell Side Liquidity and then the buying really kicked in on Tuesday getting us out at 72,603. Nice quick gain and waiting for the next setup.
JSE:J200Long
by Timonrosso
Vodacom in no mans land but watch out for BIG Order BlocksI mean... I guess it's ok for range bounded trading. Buy at the bottom of the range and sell at the top (short) then swing the other way. But I guess more importantly, the bigger the range the bigger the Order Block is for when the price breaks out. There are two Order Blocks that Smart Money will sweep. Buy Side LIquidity - Where it could sweep it all the buying where they will sell and bring the price down. Sell side liquidity - where it could seep it all the sells where they will buy to bring the price up. UNtil we have a confirmed Break above SSL or BSL - it's going range bounded until then.
JSE:VOD
by Timonrosso
TRADE UPDATE Sappi breakdown with a markup before drop to R40.60Symmetrical Triangle formed on Sappi. Broke below and has been coming down nicely. 200>21>7 - Bearish RSI<50- Bearish We recently had a markup phase which is where the orders are being filled from the recent drop. We need to retest the high (resistance) and price should come down. If it breaks above, it will be wise to place a stop loss and lock in profits as the trend will have turned up. Right now, still bearish with a target to R40.60
JSE:SAPShort
by Timonrosso
Sappi showing strong downside to R42.39 thanks to a TriangleSymmetrical Triangle formed on Sappi. This is where a pattern moves neither up or down just sideways. We then had a break down, which confirmed the trend direction. 200>21>7 - Bearish RSI<30 - Bearish Target R42.39 INTERESTING FACTS Sappi Limited is a South African pulp and paper company founded in 1936. The company has operations in over 40 countries across the world. Sappi produces a variety of products, including printing paper, packaging paper, and speciality paper. The company is the world's largest producer of dissolving wood pulp, a key ingredient in the production of rayon and other textiles. Sappi is also a leading producer of graphic paper, which is used for printing magazines, brochures, and catalogs. It's also traded on the NYSE!
JSE:SAPShort
by Timonrosso
TARGET HIT City Lodge hit the target at R3.71 but I'm not happy Bear Diamond Pattern formed on City Lodge a few weeks ago. We then had a strong break down, which showed a big collapse to come. We set our target at R3.71 which many traders thought I was crazy. I told them I hope I am wrong, because I don't like when companies drop in value who offer great value to customers. But the charts showed downside and I couldn't be biased. The target hit and unfortunately, we still see downside to come. I'll be waiting for the next formation in the meantime.
JSE:CLHShort
by Timonrosso
UPDATE: Naspers short confirmed to target R2,766Break in Uptrend structure confirmed and we are no longer in an uptrend. We've been in a sideways range and now entering a bear market as of today. We now have a largeish Inv Cup and Handle with a few bearish signals. 21>7 - bearish price>200 - Bullish RSI <50 - Bearish lower highs Target R2,766.00 WARNING Even though we expect the price to drop, it's only correcting back to the 200MA zone. Once the price gets there, we'll see a test between the bulls and bears before a chosen direction is established.
JSE:NPNShort
by Timonrosso
Prosus hit our target up at R1,446 now expect downsideTarget hit at R1,446 recently from a larger Cup and Handle. And since then we had the price go up one more day before entering into a strong sideways range. During this time it formed an Inv Cup and Handle with a few bearish signals. 21>7 - bearish Price>200 - Bullish Target R1,1033 RSI<50 Bearish WARNING Even though we expect the price to drop, it's only correcting and equilibrating back to the 200MA elastic mean zone. Once the price reaches here, there'll be a test between the bulls and bears before a chosen direction is established.
JSE:PRXShort
by Timonrosso
Merafe showing downside to test R1.00 again read fundamentalsM Formation formed on the daily and we are just waiting for the price to break below the neckline. 21>7- Bearish Price <200 - Bearish RSI <50 lower highs Target R1.08 CONCERNS: Many resource companies are showing downside to come. It seems like smart money knows something the public doesn't. This corresponds to the strengthening dollar. Ever since the US dollar started strengthening in February 2023, Resources markets have been showing volatility with no conviction of upside. Economically speaking for Merafe, the price of ferrochrome (Which is used in the production of stainless steel) is denominated in US dollars, which means that changes in the value of the dollar can impact the price of ferrochrome. This is because a stronger dollar makes it more expensive for buyers in other countries to purchase ferrochrome, as they need to exchange their own currency for US dollars in order to make the purchase. This can lead to a decrease in demand for ferrochrome, which can put downward pressure on the price. Additionally, a stronger dollar can make it less profitable for ferrochrome producers in countries with weaker currencies to sell their products on the global market. This can lead to a drop in supply of ferrochrome, which can also put downward pressure on the price.
JSE:MRFShort
by Timonrosso
#APN Aspen Pharmacare looking constructive on the weeklies #jseScanned a couple of stocks on the JSE and it was tough to find many decent setups although Aspen is one that stood out for me on the LONG side. 3 reasons I think this setup is constructive and likely goes higher to at least R200 (1) Weekly price action has been making consecutive higher lows since bottoming out in August 2019. (showing relative strength in comparison to the market which has been moving lower. (2) We are trading above both the 200 week moving average as well as the yearly Pivot. (3) Divergency on RSI where RSI shows higher lows even though price made an equal low on the last move down. I think one can buy this at current levels (approx R146.00), using a stop loss as a weekly close below 132 and a target of approximately R200. From a risk standpoint that's a risk of R14 for a target of potentially R54 which is quite decent. Let's see how we go over the next couple of weeks
JSE:APNLong
by MarcoOlevano
UPDATE Sibanye short going nicely target still to R35.77SSW Update The M formation formed nicely, broke below the neckline. The price is coming down as the supply increases and the momentum is still down. 7<21<200 RSI<30 Target remains at R35.77 ABOUT Sibanye-Stillwater (founded in 2013) is a mining company based in Johannesburg, South Africa, that specializes in precious metals extraction. As a spinoff from Gold Fields Limited, it has since grown to become one of the largest mining companies in South Africa. Sibanye-Stillwater operates four gold and platinum group metals mines in South Africa, as well as mines in Zimbabwe and the United States. Sibanye-Stillwater has a workforce of approximately 84,000 people across its operations. Also. it has interests in platinum recycling and other metals processing.
JSE:SSWShort
by Timonrosso
Barloworld has a 70% chance of moving to R107.85 - Read why Cup and Handle formed on Barloworld after the Breakaway gap. The price then moved sideways and the buyers showed stronger momentum than sellers. Now with gaps there is a 70% chance of the gap closing which is good for when you're trading it using patterns. 7>21 but <200MA Target R107.85 WARNING The Moving Averages are still very close to each other which means we can even see sideways movement for an extended period. But we have our levels and we are bullish for now. ABOUT Barloworld Limited is a South African multinational corporation founded in 1902, headquartered in Johannesburg, South Africa. The company operates in several sectors including equipment, automotive, logistics, and corporate real estate. Barloworld has operations in 32 countries, primarily in Africa and Europe, and employs over 17,000 people globally. The company is a distributor of Caterpillar equipment and also provides related services such as financing, maintenance, and repair. Barloworld's automotive division is the sole distributor of BMW and MINI vehicles in Southern Africa. The company has a market capitalization of around ZAR 28 billion (as of February 2023).
JSE:BAWLong
by Timonrosso
BRAIT showing strong downside to come to R2.50Large Bear Box Pattern formed over the last year with Brait. And unfortunately it gets worse. The Highs have become lower and lower accompanied by bearish indicators. 200 > 21> 7 - Bearish RSI <50 Bearish Target R2.50 WARNING: The breakout was definitely not a strong one. So, if there are strong prospects and investors want to protect the company, it could very well be a fakeout. Until then it's bearish until the trend turns. ABOUT BRAIT BRAIT SE (Est. 1995 in Stellenbosch, South Africa) is an investment holding company listed on the Johannesburg Stock Exchange (JSE) and the Euro MTF market of the Luxembourg Stock Exchange. BRAIT invests in a diversified range of businesses, including consumer goods, health and wellness, and technology, media, and telecommunications (TMT) sectors. BRAIT has a global presence, with investments in South Africa, Europe, and the United States. Here are some companies BRAIT has major investments in Premier Foods - a leading food manufacturer in South Africa, producing a range of products under popular brands such as Blue Ribbon, Snowflake, and Manhattan. Virgin Active - a global health and fitness club chain, with over 200 locations in the UK, South Africa, Italy, Spain, Portugal, and Australia. Iceland Foods - a UK-based frozen food retailer, known for its value and convenience, with over 950 stores across the UK.
JSE:BATShort
by Timonrosso
Adcock showing strong upside to R57.61 but with warningInv Head and Shoulders formed on Adcock and now the price is above the neckline showing upside to come. 7>21>200 RSI>50 Bullish CONCERNS: This is a very volatile, flimsy and illiquid stock compared to the Blue Chips. I call these unhealthy charts which seldom work well with breakout patterns. Maybe as a Weekly analysis or Monthly will show some more promising price action, but daily is dangerous by just looking at it. Target R57.61 ABOUT Adcock Ingram is a South African pharmaceutical company that was founded in 1891 by Thomas Adcock and Joseph Ingram. It has a market capitalization of over R9 billion (Hence Medium Cap company that I don't like to trade). Adcock Ingram is one of the top pharmaceutical companies in South Africa, with a strong focus on the manufacturing, marketing, and distribution of healthcare products. They are also known for their insulin and penicillin. It has a ton of products, including over-the-counter medicines, prescription medicines, and medical devices. Some brands which I'm sure you know and helped you through Covid and your sick days are: Corenza: A popular brand of cold and flu medication in South Africa, known for its effervescent tablets. Linctagon: A range of cough and cold medications that includes lozenges, syrups, and capsules. Compral: A well-known brand of pain relievers, including tablets and capsules. Probiflora: A range of probiotic supplements designed to support digestive health. Bioplus: A popular energy supplement that is available in a variety of formulations, including capsules and effervescent tablets. Panado: A brand of pain relievers that is commonly used to treat headaches, fever, and other common ailments. Sominex: A sleep aid medication that is used to treat insomnia and other sleep disorders. Adcock Ingram has a strong presence in the African market, with operations in over 10 countries on the continent.
JSE:AIPLong
by Timonrosso
Coronation Fund in a box formation - waiting for a breakBox formation is strong with CML. We need to wait for the price to break up or down from the formation, or it can be a long sideways move. If it breaks up the target will be R46.00 My bias however is more to the bearish side. and so if the price breaks below the current uptrend line and below the box formation, it's pretty much a given. Provided that that the breakout remains and doesn't become a fakeout again. 21>7 =200 RSI<50 Will have to wait and see.
JSE:CML
by Timonrosso
Redefine showing downside to R3.20 thanks to a Symm TriSymmetrical Triangle formed on Redefine. We saw the price breakout to the downside. 21>7 >200 MAs - Mixed RSI <50 Bearish divergence Target R3.20 ABOUT: Redefine Properties Limited (Est. 1980s in JHB SA) is a leading South African real estate investment trust (REIT) and one of the largest property owners and managers in South Africa. It has a diverse portfolio of properties that includes office, retail, industrial, and residential properties. The company's portfolio of properties is valued at over R100 billion and spans across South Africa and several other African countries, including Zimbabwe, Namibia, and Mozambique.
JSE:RDFShort
by Timonrosso