Stocks in play 6 December 2021

A quick note before we get into this week’s stocks in play. This will be the last one for the year. As I will be taking a break from the markets. It will be back in the second week of January. 2021 has been a great trading year for me. Filled with great lessons, fun and luckily profitably.

The biggest lesson has been to trust and believe in myself. But not so much that I think I know the markets. Trade with a plan, discipline to stick to the plan and have the courage to execute on the plan.

Here’s this weeks stocks in play

Absa

Absa gaps and drives strongly on Friday jumping back above the 50 day EMA. Triggering a buy, I will start building up a position with an initial stop loss at R133.25. Putting on a 1% risk

`Aspen

Aspen looks like it’s forming a head and shoulders pattern. We might see it test the 50 day EMA before breaking the R250 neckline. For the R275 target.

Dischem

Dis-chem broke the bullish flag at the start of the week last week. Spent the entire week test and holding the top line of the flag from above. Waiting for a new relative high close above R35.70

Investec

Investec looks well poised for a new high box to continue making new highs. Waiting for a close through the R82.80

MTN

Nice round bottom on the stock. The stock consolidated albeit not enough to close the gap . The stock could be setting up a cup and handle pattern. Waiting for a close through the R169.40

Sappi

The stock has been forming a symmetrical triangle pattern. Looked it was going to a make a new high relative high close, but closed with a bearish looking candle. Struggling to break out. If we can get a closed above Friday’s close I will start building up a position on Sappi

Portfolio Summary on 8 December 2021

Capital invested: R10 303.77

Current Balance: R9 460.2 -8.19%

Current Equity (Balance including paper P&L): R20 504.54 +99%

Current P&L : R11 044.34

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: njabulo@villagetrader.co.za

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