Week 23 – 27 November 2020

Aspen Pharmacare

 

Between December 2018 and June 2019, we have a bullish divergence. With the share making lower lows but the oscillator making higher lows. Since that time the share has been making higher highs and higher lows. The news with the vaccine possibly being manufactured by Aspen could push the share higher. I’m looking for a breakout above15082c, looking for a 3% higher close at 15534c

JSE

 

We have a nice symmetrical triangle on JSE. Looking quite bearish the moment. The resistance held yet again. Waiting for a break to the downside.

Kumba 

We have a decent looking symmetrical triangle, looking good for the continuation to the upside. Using the width of the triangle pattern 67350c looks good as a minimum target.

Northam Platinum

We have a nice rectangle bullish flag on Northam Platinum. Waiting for a breakout through 18591c

Royal Bafokeng Platinum

 

We have a nice looking bullish flag. I’m now waiting for a breakout of the flag structure

Rand Merchant Investment Holdings

We have a nice looking inverse head and shoulder pattern on Rand merchant. The formation of the left shoulder and the head, also saw the share had a bullish divergence. I’m looking for a break above the neckline at 3278c. The 30w EMA is looking to cross the 60w EMA (my trend indicators).

Sanlam


Sanlam is another lagger looking bearish. The share making lower highs. Not following its peers in the financials

Shoprite 

 

Shoprite looking quite bullish at the moment. Once we close on the other of the 200 week EMA. The trade looks even better.

Multichoice

 

Multichoice has been quite bullish, following the acquisition by Canal +. We now have a nice bullish flag on the share. Perhaps the launch of their new decoders which can stream Netflix and Showmax could be a catalyst to some further rally.

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