well IMP starting to show a little weakness, SOL could be a quick punt, EXX also there, ANG, AMS (but this is a little more risky at the moment), MTN??(not to sure but could drift rather than fall), KIO, BIL.....many to choose from. Problem is choosing the right ones for fastest/max swing. IMO
Well, it broke downwards from a 10 month channel. It may make 51% chance of bit more downward movement or 49 % of chance it may go up again!! But infact it doesnt matter where it goes all u have to know is when to get out!!
MTN mtnsbp would not have enetered, fear of drifting as it is
KIO kiosbs eneter 25c still open
BIL did not look at it as dont really trade it. closer look drifting???
so an average trade of 100,000 shares in each profit would have been between loos of 1% or max profit of 17%. EXX I would have taken more time to analyse before enetering but prefer longer options here. thus you can see a 3% profit per trade 3 times per month is not difficult to achieve.
Depends on your trading timeframe. Playing devils advocate in support of the "trend is your friend" analogy, it's been 7 days since this call .... Using prudence, analysing the low of the 12th and the high of today only 2 good calls : SOL: Enter low 12th @ 309, exit high today @ 303 - profit trade. ANG: Enter low 12th @313, exit high today @ 308 - profit trade. I like to use a confirmed break in trend, more likely to give a better trade. Still watching Netcare for a confirmation of the break.
Well it looks like Alsi is testing short term support at 28000 mark. If we close below this it looks like next support (long term)is around the 27600 mark. If we close below that there might be a few more shorting options to look at.....
Plot ALSH, draw support and resistance line from 9 Mar to today, currently testing major support and trading in the tip of a rising wedge: "Wedge The wedge chart pattern can be either a continuation or reversal pattern. It is similar to a symmetrical triangle except that the wedge pattern slants in an upward or downward direction, while the symmetrical triangle generally shows a sideways movement. The other difference is that wedges tend to form over longer periods, usually between three and six months.The fact that wedges are classified as both continuation and reversal patterns can make reading signals confusing. However, at the most basic level, a falling wedge is bullish and a rising wedge is bearish" Same goes for FTSE and DOw at the moment. Ill scream from the sidelines for now..
The RSI should be used confirm a rising wedge. If the RSI is forming lower highs as the wedge continues I would say it's a bearish rising wedge (MRF April to June 2008 and FOS January to May 2006). I have yet to see a bullish rising wedge.
Well its gonna have to break out up or down some time or another, its the magnitude of the violence im a bit worried about. And on top of that, your chommies at cnbc has me brain-washed of a possible correction of sizeable magnitude in the next week or 2 ...
Breakout from a falling wedge, on the other hand, is a highly reliable one - and seems to be a firm favourite of OST's own technical analysts. Incidently, that is exactly what NPN is lining up to do. The same applies to NTC