Weekly game plan 23 Aug 2020 - GLNOur long setup here has failed and it's starting to look like the bear flag is in play.
0IVW trade ideas
Glencore Head and ShouldersJSE:GLN
We have a beautifully clear Head & Shoulders pattern on the Glencore share.
Shorting the share below the R38, Stop loss at the R40 levels (highs of the right shoulder), targeting the R32 levels (Height of the head)
$JSEGLN Glencore Nice breakA nice break by Glencore around the 3940 levels could see this one extend to the 4600 levels
Glencore - approaching interim top?Lots of mining stocks have been on a decent run since March and many had a good move yesterday. This count suggests that they may be approaching an interim top.
#Glencore - Buy - $JSEMarket Sentiment Bullish, Overall target 4278 price area, I am expecting for the market to move up in a diagonal sequence. Find resistance at current area and retest support at 3635, then advance to 4278.
Glencore PLC - Buy $JSEExpecting resistance at 3930 to force market to retest support at 3635, buy and target take profit @ 4270.
Glencore - huge upsideFractal ready, impulse + three wave correction.
On a minor frame we have also a bullish structure, that may represent a unique long opportunity
Glencore BUY Opportunity Still Lies Below 128, IF...Glencore stock price potentially could re-test its previous support level, with recent price creating a higher-high. IF bullish sentiments still remain the same on the re-test, then a buy opportunity may likely occur below 128
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
GlencoreWhen I look at long-term charts for stocks, I'm often looking for is the ability to double my money, sell half and recycle my capital in something else which will work hard to grow. Key levels above. Definitely worth tracking over the next few weeks.
JSE:GLN Glencore Redistribution CompleteA smaller redistribution trading range, after the larger distribution trading range (see posts below), has formed. After an upthrust (UT) and last point of supply (LPSY) the markdown is set to continue.
Change of fortunes for Glencore!The blue zone was defended on the weekly since 17 December and the bulls seem to want to take this stock higher. Il take this trade and target the monthly tenkan zone (yellow zone)
Entry: 4455
SL: 4320
TP: 4793
Risl management is critical
GLENCORE Founds Its Bottom & Likely To Continue UptrendGlencore more likely to have found an intermediate bottom. A re-test of a support at 230 may likely take the stock price upward...
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
JSE:GLN Glencore Markdown ContinuesGlencore stock is still being distributed by large interests and there is no sign of a recovery. After a redistribution range price is ready to take the next step down.
