Jse_top40
$JSE-SBKJSE:SBK
Stuck in the range testing bottom of it.
Banks are looking weak. If it breaks lower more downside.
$JSE-NPNJSE:NPN
Made nice rising wedge, with negative divergences.
Hit big resistance. Made nice big engulfing bar.
HKEX:700 results look very bad.
Time to sell?
J200JSE:J200
Blue line J210 RESI 10
Yellow line J211 INDI 25
Green line J212 FINI 10
Red line top40 J200
Resi strongest pulling J200 higher, Fini weakest.
$JSE-SOLJSE:SOL
Pressing against 44000.
If it breaks higher (or should I say when) will go for gap close around 46500
First target is 45000
$JSE-BHPJSE:BHP
Testing top of the sideways consolidation.
If it breaks and hold first target will be around 35000, second around 37000/38000 area where all time high is
$JSE-ANHJSE:ANH
Made inverted head and shoulders and broke above neck line. Unfortunately break was stopped by resistance at 118000
Currently making small flag consolidation.
Break above 118000 will open 129000 as target for head and shoulders.
Pull back towards neckline around 111000/112000 area would be great place to buy.
$JSE-SBKJSE:SBK
Still inside range but if 18200 gets broken more downside to come.
Banks are looking weak these days.
$JSE-BVTJSE:BVT
Held 21900 level and now pulled back towards up trend line.
Watch for break one way or the other.
$JSE-FBRJSE:FBR
Broke flat bottom triangle.
Target is around 6000
This is weekly chart so will take time to get there.
$JSE-SOLJSE:SOL
Had nice run over last few weeks but currently looks like it losing momentum.
Indicator made hidden divergences (Indicator makes higher high, price makes lower high)
Could be that Sasol is rolling over.
J200 - TOP40 hourly chartJSE:J200
Making head and shoulders on hourly. If neck line gets broken target around 48600.
$JSE-MTNJSE:MTN
Results published this morning.
Trying to close lower gap, top gap still open.
Range bound consolidation inside down trend.
$JSE-SBKJSE:SBK
Made double top around 19700.
Currently testing bottom of the up trending channel started in October 2018. If it breaks bellow next target is neckline for double top around 18200
If that neckline is broken target will be around 16700. Around November/December low.
Above 19700 and bulls are fully in control.
$JSE-ANGJSE:ANG
Weekly chart made cup, broke neckline and and now back testing it.
If it plays out target is in 260/280 region.
This is longer term play.
$JSE-FSRJSE:FSR
Making head and shoulders.
Neck line is 6250. Break bellow will open 5500 as target.
RMI Is About To Make A MoveRand Merchant Investment (RMI) Holdings is an investment holding company with a portfolio of insurance and investment products targeted at the commercial, corporate, retail and public sector. The group’s history can be traced back to 2010 with the spinning off of insurance assets from Rand Merchant Bank (RMB) Holdings, FirstRand and Remgro. RMI Holdings shares were subsequently listed separately on the Johannesburg Stock Exchange (JSE), although RMB Holdings and RMI Holdings still share the same management team.
Technicals
On the weekly time frame, we can see a corrective structure formation, indicated in pink. The daily time frame, indicated in blue, shows a 5 wave corrective structure which has completed. This would indicate that there should be a break to the upside soon. This break will be the start of wave 4 on the weekly structure.
