Weekly chart analysis week 4 25 January 2021

We seem to be in a bull market at the moment. Stocks are breaking higher. Top 40 looks bullish as well. Gold seems to be the lager at the moment but my bias at the moment is still bullish. 

 

Here’s some of the stocks I’ll be following closely this week. I’m ignoring short signals for now. because evidently the market is going higher. So for now no shorts.

Gold We have a beautiful bullish flag on Gold. When looking at the daily chart. Gold held the 200d EMA twice, making a higher low and a higher high. If Gold breaks and closes on the other side of $1900. If gold can break and stay on above $1900 my target for gold is $2150. We could see gold rising by 13%. That being the case Gold miners should rally as well. For now I wait. This could take multiple weeks to play out Looking at gold miners DRD Gold DRD seem to have found some support around 1450c. I got triggered on that false break 3 weeks ago. Under water on the trade at the minute. My stop is below the 1450c support., Haven’t been stopped yet. If gold rallies DRD should rally with it. And if its breaks and closes on the other side 1800c and the 200d EMA.. My target for DRD at the moment is 2950c. Stock currently trading below its 200d EMA. Harmony gold Harmony gold seems to have found some support around 6100c. There’s a possible head and shoulders pattern as well. And the share currently trading below the 200d EMA. However, because the 30w EMA is above 60w EMA I will ignore the head and shoulders signal. Once we take out the 7412cc resistance.Even better above the recent 8060c high With the possibility of gold running, Harmony looks good. My target for Harmony is 12000c Northam Northam platinum has been a in an uptrend in recent times. My bias remains bullish at the moment. We have a nice ascending triangle pattern. Looking to add into my position. Once it breaks 21810c. With a stop around the 19600c level. PGMs have been looking rather bullish at the minute. Shoprite Looks like the cup and handle formation on SHP is increasingly looking more likely to playout. I’m looking for a close on the other side of 15000c. With a stop around 12300c and a target around 19300c. And possibly higher. If the share breaks out of the bullish flag “handle” there’s good chance that it will break 15000c.I might look to enter on the break of the bullish flag, and add to the position on the break of 15000c Capitec Falling wedge handle We have a nice cup and handle pattern on Capitec. The handle is a nice falling wedge. If we break out of the falling wedge there’s a good chance that we’re going to take out the 152500c high and trend higher on the bank. Multichoice Ascending Triangle pattern A beautiful ascending triangle pattern on MCG. I’m currently long on MCG. Looking to add into my position on MCG if it breaks the 14000c resistance level. Aspen breakout Aspen still looks quite good to break higher. Though the 15000c resistance held. HOwever seems like the selling pressure is failing to push the stock lower. We could see break and a close on the other side of 15400c (3% break) Mondi bullish flag (daily chart) Nice bullish flag Mondi, a stock I’m currently long off. Looking to add into the position on the break out of the bullish flag. Mondi looks quite bullish at the minute Glencore bullish flag Nice bullish flag on Glencore. After a strong break the 4362c resistance. My target for glencore is 7000c with a stop around 5450c. If we take out the recent high around 5900c there’s a good chance that we are going to hit 7000c.

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