Weekly chart analysis 11 April 2021

Distell

Trade Summary 11 April 2021

Average entry: 10612c

Position size: 12.9

Stop loss: 10629c

Risk: +219c

Risk%: 0.03%

Distell looked like it was breaking and closing on the higher box on Wednesday, but the closed back into the current box. Closing on Wednesday with a kangaroo tail, but was engulfed the next day so no worries there. Still waiting for the close above 12250c then I will add to my position

Impala

Trade Summary 11 April 2021

Entry: R236.68

Stop loss: R259.53

Risk per share: +R22.85

Quantity: 21.4

Risk ZAR: +R488.99

Risk: +7.66%

The stock is looking quite good. Making just under half my current P/L at the minute. The company also recently paid some dividends as well. The stock looks like it has shrugged off the price adjustment for dividends. I’ve added to the position on Thursday as it breaks to a higher box

Royal Bafokeng Platinum

Trade Summary 11 April 2021

Entry: R88.27

Stop loss: R96.77

Risk per share: +R8.50

Quantity: 27.8

Risk ZAR: +R236.30

Risk: +4.50%

We have a nice horizontal bullish flag on the stock. As the stock looks to break in to a higher box. I’m looking for a break above 11880c. Then I will add to the position and trail my stop loss to around 10420c. To add more wind at the back of this trade. Platinum looks quite bullish as well. There’s a nice symmetrical triangle pattern on platinum. If platinum breaks you would imagine Platinum miners will break as well.

Transaction Capital

Trade Summary 11 April 2021

Entry: R27.03

Stop loss: R26.5

Risk per share: -R0.53

Quantity: 159.4

Risk ZAR: -R84.48

Risk: -1.04%%

The stock has been looking bullish for a minute now. Breaking into higher boxes with relative ease. It broke a significant monthly level as well. The stock is looking to break to a higher box. I’m looking for a close above 3100c then I will add to my position, and trail my stop loss to around 2790c level.

Woolworths

Trade Summary 11 April 2021

Entry: R49.13

Stop loss: R44.61

Risk per share: -R4.52

Quantity: 28

Risk ZAR: -R126.56

Risk: -1.56%%

Woolies broke quite a significant downtrend resistance level as it was breaking into a higher box. We had a nice doji candle on the weekly chart 3 weeks ago. I’m looking for a close above the 5200c which would be a 52 week high close. I’ll to the position and trail my stop loss to below the doji candle to around 4600c

Firsttand

No position

Financials have been at the lower end of the “K” shaped recovery along with property stocks. The banks have started their recovery. First rand has been looking good.Breaking to higher boxes and the 30w EMA crossing the 50w EMA as well. I’m looking for a break above 5340c. On the stock

BIdcorp

No position

We have a nice ascending triangle pattern on Bidcorp. As the stock is looking to break into a higher box. I’m waiting for a break and close above 29890c then I will take the trade with a stop loss around 27200c level

Exxaro

No Position

Exxaro broke a significant monthly resistance. We had a nice Doji 3 weeks ago as as the company was paying dividends. I’m looking for a break above 18300c, then I will take a long position with a stop loss below the doji around 16300c.

Mondi

Trade Summary 11 April 2021

Entry: R377.01

Stop loss: R368.88

Risk per share: -R8.13

Quantity: 15.8

Risk ZAR: -R128.45

Risk: -1.59%%

We have a nice cup and handle pattern on the stock. I’m looking for a break above the neck line. A close above 39350c. I will add to the position and trail my stop to around 37590c. The stock seems to have shrugged off the dividend adjustment.

Mr Price

Trade Summary 11 April 2021

Entry: R189.16

Stop loss: R176.40

Risk per share: -R12.76

Quantity: 12.9

Risk ZAR: -R164.60

Risk: -2.03%

The stock has been looking good for a minute now. Supported by some pretty good acquisitions recently. Mr Price is amongst the better clothing retailers in our maret along with TFG. I’m looking for a close above 20250c which would be a 52 week high close. Then I will add to my position. I’ll trail my wtop loss to around 19000c. The stock recently broke a strong monthly resistance level

MTN

No Position

MTN has been looking pretty good recently, breaking into higher boxes. The 30w EMA has now crossed the 60w EMA. I’m now looking for a closed above 9130c. I will take a long position on the stock, with a stop loss around 8250c

Truworths

No position

We have a nice Cup & Handle pattern on Truworths. The 30w EMA looking to cross the 60w EMA. Now I’m waiting for a break above 5000c. Then I’ll take a long position on the stock

Account Summary on 11 April 2021

Capital invested: R9 000

Current Balance: R8 060.46 (-10.44%)

Current Equity (Balance including paper P&L): R10 607.13 (+17.86%)

Current P&L : R2 546.67

 

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