Weekly charts analysis week 5 7 February 2021

Capitec Bank

Cup and handle/Bullish flag/Head & Shoulders

The stock looked like it was breaking on Friday. However, closed back within the flag/Handle. A nice cup and handle formation on the chart at the moment, which is also a head and shoulders plus a bullish flag. That’s quite some wind behind this trade. A break through 147837c. Confirms the trade for me. Even better above the 152500c.

For now I wait for the break through 147837c

Exxaro

Nice uptrend channel as the stock broke out. On the Head and Shoulders pattern which got me in my initial trade. Seems like the stock has a defined line of least resistance. The stock continuously making higher lows and higher highs. When it breaks through the 16722c and again as it breaks through 17996c. My target for Exxaro remains 21240c for now

Quilter

A beautiful ascending triangle pattern on Quilter. Showing an even healthier uprend on the daily chart. With an even steeper support line. I’m looking for a break through 3378c. My target on the stock is 4772c.

Rand Merchant

A nice head and shoulders formation on RMI. Ending the past week with a bullish engulfing candle. Waiting for a break through the 3278 neckline. My target for the share is 4800c.

Sappi

Sappi looks very attractive at the minute. As it break though 4682c resistance. We could see a bit of the reaction first, perhaps on some profit taking. For now i’m waiting for the 30w EMA to cross the 60EMA and for the stock to cross 4682c. Fait bit of volume coming over the past few weeks

Spar

Nice Symmetrical triangle pattern on Spar. The 30w EMA just crossed the 60w EMA. Looking good to break higher. Using the height of the triangle my target for Spar is 28000c. Waiting for a break out through the symmetrical triangle

Transaction Capital

Nice horizontal bullish flag on bullish flag on Transaction. There seems to be a tug of war of buyers and sellers of the stock between the 2300c-2600c over the past couple of months. This is a trade I’m in. I’m looking for a break above 2600c and I will add into the position.

Sibanye

Healthy looking uptrend channel on Sibanye. Another trade I’m in. Looking to add into the trade when it crosses

Satrix 40

Satrix confirmed on the Lazy system as it closes above the close of the trigger candle.I’m entering long Market open on Monday

Village Trader portfolio update


Equity: 6259.60 up 12.79% from last week’s R5549.70 down -3.7% from capital invested

Floating P/L: 1155.92

Capital invested: R6500

Leave a Comment

Your email address will not be published.