The JSE woke up and made news highs this past week. There was a fair bit of volatility in the market. There will be plenty of opportunities that will come in the near future. As we approach the Christmas rally. With the volatility in the market I could only pick but few picks for this week’s stocks in play. Keeps eyes open, a few surprise might pop in the week.
Let’s look at this weeks stocks in play
The Head & Shoulders break is often followed by a re-test back to the neckline before taking. Such was the case this past week on ApmPlats closing the week off with a couple of dojis right at the neckline. Providing a good buy opportunity with a R1922 target with a tight stop loss just below the 200 day EMA. For a 5:1 Risk Reward ratio.
Anglo retests the baseline of the ascending triangle breakout. Closing above the 200 EMA on Friday with a doji candlestick. Proving a good buy opportunity with a tight stop loss just below the 200 day EMA around R573.
Another delisting may be on the cards. The owners of Oreo biscuits and Cadbury’s chocolate, Mondelez. Are said to be lining up a bid offer for AVI. Market liked the news on Friday, albeit holding the R89 resistance. Looking for a close through the R89 resistance to raise my stop loss to just below the 50 day EMA and below Friday’s low.
Gold stocks are showing signs of turning, helped by the bullish price action of gold. DRD developing an inverse Head & Shoulders pattern. With 15.57 serving as the neckline. With a tight stop just below the 200 day EMA at R14.30 for a R19 target.
The stock came bitterly close to stopping me out on Thursday. Despite coming with strong results the market sold the stock off. We had a bullish inverted hammer candlestick on Friday around the 50 day EMA. Let’s see if we are going to get a green close. Then we can watch if the market will remember the R46.50 price.
Portfolio Summary on 21 November 2021
Capital invested: R10 303.77
Current Balance: R9 759.67 -5.28%
Current Equity (Balance including paper P&L): R18 707.46 +81.55%
Current P&L : R8 947.79
Equity curve Vs Benchmark (Satrix 40 ETF )
Closed trades statistics and distribution
Open trades statistics and distribution assuming all stops are hit
Thank you for reading and reaching this far. If you have questions or chart requests or want/need someone to bounce ideas off of feel free to drop me an email: firstname.lastname@example.org