Wind at the back Once in a while you stubble across an asymmetric opportunity that at first glance seems insignificant when merely glancing over the Risk:Reward numbers. As a technical analyst, trend follower price is all I dance with. Trusting the nature of probabilities that past behaviors of price turn to repeat. Classic Cup and …
The R193 – R210 areas had been a strong area in the market’s memory. The company put a strong trading update showing a strong recovery from the lockdown regulations the past year. The market loved the update. The stock continued making new relative highs. Showing tail lights to both 200 day & 50 day EMAs. …
Wind at the back. There is a possible 6.8 Risk:Ratio setting up on Sappi’s monthly chart. The August candle is closing off with a bullish Engulfing candle engulfing July’s doji. As the stock holds an important long term support. With a long term stop loss of R36.30 and target of R100. Nice risk reward ratio …
Monthly chart Analysis The stock broke back above the R130 support. May with a close above the 50 month Exponential Moving Average. There’s a good chance the stock will run up to the R198 resistance. This trade could take up to a year to play out. Weekly chart analysis We have had a Cup and …