TRADING: SOME TECHNICAL CHARTS


Investing & Money
piece written on the 14th July 2014 by  

I’ve managed to find the time to do some technical analysis and investigation over the past few days. It’s great to be back and inspired by the markets! Whilst doing my research I came across a few great charts shared by traders worth following on Twitter. Such beautiful charts deserve to be shared so here you go:

The first chart is JSE:SHP, good old Shoprite. As you’ll see, the trend looks like it’s going to break through the 200day ma and if it does there’s a good chance it’ll continue to boost upwards quite nicely, possibly right up to the 17000’s.

shp

Our second chart is Sasol, JSE:SOL, which looks like it’s going to bounce nicely off support – unfortunately from there I’m not sure how high it’ll actually go but there’s definitely some room to get in and out with a profit.

sol

The final chart I have to share is a lovely one, take a look at this:

sab

Personally I’ve put a price alert on JSE:SAB, if it does venture down to the R570 I’ll be buying in and if it then ventures even further to the R550 mark I’ll buy in again. Currently it’s trading at R601,33 so there’s still a way to go but watch this spot!

Here’s another JSE:SAB chart:

sab2

SMA50 and SMA200 are both looking downward, the RSI is trending down and the MACD shows drop off – all signs I can find are pointing down! Great buy potential coming our way for the long term investors.