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Online Share Trading

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Snap are you buying

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FEK
Super Contributor
Good call Snap, target reached, where to from here ?
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22 REPLIES 22
FEK
Super Contributor
Guess you are not buying as yet
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I need to check the charts again but based on Telkom breaking that 54 support level, the next support is 50 and that means we then in a volatile trading channel of 50 to 62 and I expect it to bounce a bit between those 2 levels and consolidate a bit before breaking out. That can be very profitable as we see how volatile this is getting the last week. Otherwise I would have a stop below 50 so that if 50 doesn't hold then we have hit a double top and it can get very ugly here into a proper bear trend. I will wait and see where it stabilises first before getting in as a break below 50 can mean 10 to 25% further down. Anyway with markets currently correcting my focus is gold right now and specifically in Harmony over the next few weeks. Are you still holding?
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FEK
Super Contributor
In at around R52........
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Oh ok be careful if it close below 50. Otherwise it can run to 60 again quickly. Good luck. We will watch and see what happens the next few days.
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We broke below 50 - not good. When it settles below 50 this baby can go to R38 (Double top resistance to neck line 62-50=R12 drop)
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Update after I took a look at the charts now: There is a bearish trendline channel with current support at 4760 - that is also a Bollinger band low. So, there is a high possibility that it could make a low today and then bounce from here up next week and fast to make a triple top (Possibly 54+ and then possibly as high up as 60 in quick time again - Bear trap!) then reverse again and come down, break through the neckline again and then head for R38 target. This is getting extremely volatile so expecting quick fast swings here.
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Rams
Super Contributor
R38......that's what I also get but based on valuations.
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*Oh and I meant bull trap not bear trap. . thanks Rams, yeah lets see how it plays out in the next few days.
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*Bump! Telkom is back in my book guys - Brilliant close and we bounce off 5000 again! I was looking for a higher high and close above 5200 and we did that. Looks like another possible V bottom back to 6100. I still want to see a higher high above that big 5400 level (Fib resistance levels at around 5400 also) Entry tomorrow at 53 and stop loss just below that 5182 high that was previously made (under 52 turns bearish/flat imo) What you guys thinking? Target price is around 6085. Who is in?
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Goodness me, people are so keen to buy Telkom this morning. Extremely hard to catch the price this morning!
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Goodness me, people are so keen to buy Telkom this morning. Extremely hard to catch the price this morning!
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Went totally against my rules trying to catch this eish!!!
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DrBr
Occasional Contributor
Think the announcement of possible deal with BCX have any additional effect on the immediate price, or will it stick between the previously mentioned tops and bottoms?
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Thats news that has been out for a while, so dont know the latest. I trade the price.. So i'm a buyer now and will sell at that 6070 region if we get there and ill await the next move.. If it breaks 63 its bullish and then 72 or so is possible. So ill rebuy at 63 levels..
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Thats news that has been out for a while, so dont know the latest. I trade the price.. So i'm a buyer now and will sell at that 6070 region if we get there and ill await the next move.. If it breaks 63 its bullish and then 72 or so is possible. So ill rebuy at 63 levels..
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Thats news that has been out for a while, so dont know the latest. I trade the price.. So i'm a buyer now and will sell at that 6070 region if we get there and ill await the next move.. If it breaks 63 its bullish and then 72 or so is possible. So ill rebuy at 63 levels..
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Not applicable
Thats news that has been out for a while, so dont know the latest. I trade the price.. So i'm a buyer now and will sell at that 6070 region if we get there and ill await the next move.. If it breaks 63 its bullish and then 72 or so is possible. So ill rebuy at 63 levels..
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Sorry for the repeat posts guys - was on my phone. Forum is so slow. We rising as quick as this dropped and is so far almost identical to the drop at this stage. 59 high tomorrow 61 on Friday and we identically match the drop in days and trend angle. A huge seller came in earlier and sold something like 500k shares in 15 minutes to drop the price a lot but we recovering.
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