Weekly charts analysis week 4 1 February 2021

Capitec bank

 

 

Beautiful cup and handle on Capitec. If The stock break the 147852c even better if we can take out that high. I will potentially add into my position with a limit order a few points above the 152500c. Projecting the higher of the cup makes 216057c The break of the bull flag(handle) is also a nice entry. Perhaps adding to the position once the stock breaks the 147852c resistance level. And again as it takes out the high. Patience is needed here this could take a while.

Price action on the daily chart is looking good. The stock holding the 50d EMA as support. Making a higher low. A fair bit of volume coming in. Since it closed above the 50d EMA. There’s some good wind at the back. Add to that a golden cross.

Distell group

A nice cup and handle pattern on the stock. If we can break the 9908c resistance level. Even better above the 19617c multi-week high. Projecting the cup’s height my target for Distell is 13212c. This could take quite some time to the target. Patience will be key on this trade. This is a trade I’m already in. Amongst my oldest trades took it on September 8, 2020. When the 30w EMA crosses the 60w EMA

Aspen

The stock is looking good at the moment. The stock has been making higher lows. We are within touching distance from the 15000c. I’m looking for a 3% break and a close above 15450c. The 30w EMA just crossed the 60w EMA, that’s a good sign. Partner that with a golden cross on the daily chart.

Discovery

The stock broke the 13400c resistance and ran to as high as 15880c. The stock came back to trade below the 13400c support. The 30w EMA is still above the 60w EMA. I’m looking for a re-breakout back through the 13400c resistance level.

Mr. Price

A nice Cup and Handle on the stock. Broke out of the bullish flag/handle with a fair bit of volume of the past couple of weeks. With a fair bit of volume. I’m waiting for a breakthrough 17790c. Projecting the height of the cup My target for Mr. Price is 25070c. the 30w EMA is looking like it’s crossing the 60w EMA.

Tested the 50d EMA on Friday’s lows. The 50d EMA has been good support for Mr Price.

Shoprite

A nice cup and handle the stock. It broke the handle now I’m waiting for a close through the 15000c resistance. Volume picking up as the stock was breaking through the handle(flag). My target for Shoprite is 19300c For now I wait for the break

Satrix40

I’ve been trading Simon Brown’s lazy system on the Satrix40 for a while now. In fact, I’m in an open trade at the moment on Satrix40 ETF. A lot of folks have asked me to send email alerts on the lazy. Well, your wish is my command. I will be sending alerts on the lazy as triggers happen. Please do note that I trade the lazy system on daily charts. All alerts will be referring to the daily chart.

We had a trigger on Thursday’s close. As the ETF close above the 15d EMA. We now wait for a confirmation, which is a close above 5829c. I will be sending alerts if it confirms. I’m looking to add to my position.

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Village Trader portfolio update

Balance: R5226.83 down -19.59%

Equity: R5549.70

Floating P/L: 322.87

Capital invested: R6500

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