Weekly chart analysis 22 February 2021

As a swing trader the bigger picture is important to me. This is why I like looking at the bigger picture. Looking at the weekly chart. Here are some of the JSE listed stocks stocks I’m currently looking at

Kumba

Position

No position in the market

The stock is looking good. I got stopped on the recent pullback in profit. However The stock still likes its trending higher. Currently trading in the R591 – R683 box. The stock has been moving nicely for quite some time. I’m currently waiting for a break through R583 on the daily chart. I will then get long the stock and put my stop halfway through the R531 – 683 box.

Mondi

Position

Everage Entry: R368.66

Quantity: 8

Stop loss: R352.60

The stock is also looking good at the moment. After staying in the R279 – R333 box for about two years. It didn’t stay long in the R333 – R366. Recently the stock broke R366 resistance, and came back to retest this level.

Taking a look at the daily chart. There’s a nice bullish flag pattern.That broke out and retested the flag’s resistance. Providing a nice entry signal to add to my position.

Mr Price

Position

Everage Entry: R181..99

Quantity: 4

Stop loss: R163.95

The stock looks very good. I entered the trade on the break of the cup and handle and the R149 – R177 box. It recently broke to the R178 – R205. Still trading at the bottom of the R178 – R205. There’s a nice combination of bullish chart patterns. Head & Shoulders and Cup & handle. The neckline being. R187. There’s a great deal of wind at the back.


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Daily chart.

There’s a nice bullish flag on the daily chart. Waiting for a break for the flag and close above the R187 (Neckline of the Head & Shoulders pattern) then I will add to my position.

Northam Platinum

Position

Everage Entry: R194.67

Quantity: 4

Stop loss: R178.80

A trade that I’m in at the moment as the stock was entering the R186 – R218 Box. The stock is looking good to break in the R218 – R248 box. I’m going to add into the position when it breaks the R218 resistance.

Glencore

Position

Everage Entry: R51

Quantity: 22.7

Stop loss: R53.04

Glencore breaks into the R59 – 72 box from the R45 -R59 box. I’m going to add to this position at Market open on Monday 22 February 2021. Buying 10.2 more shares. With a stop loss at R53.04.

Sibanye Still Waters

Position

Everage Entry: R61.66

Quantity: 22.10

Stop loss: R60.89

The company came out with some great results in the week. The stock had quite a good week. It looked like it was breaking to the R70 – R83 box, but came back and closed the week below the R70 resistance. Waiting for the break through R70, then I will add to the position.

Exxaro

Position

Everage Entry: R153.22

Quantity: 10.20

Stop loss: R146.53

The stock is moving very well at the moment. Looked like it was breaking into the R180 – R200 box. I’m waiting for a break through R180 then I will get into my position and pull my stop loss behind me. Perhaps around R167 to start or half way through the R160 – R180 box.

Coronation

Position

Everage Entry: R47.83

Quantity: 29.70

Stop loss: R43.14

The stock was stuck in the R37 – R44 box. When it broke, the boy did it move. breaking through the 200 week EMA, came back to retest it and it held. I’m now waiting for a break through R51 as it moves to the R51 – R58. I will add into the position then. With a stop loss half way through the R44 – R51, around R47.

Account Summary on 21 February 2021

Capital invested R6 500

Current Balance: 4809.84 -26%

Current Equity (Balance including paper P&L): R7 905.27 +21.62%

Current P&L : R3095.43

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