7058 replies to this topic

[Gspot]

FSR has been in a very strong upward trend, with all time highs about 2 weeks back.

 

Once again I see a big H&S formation with the left shoulder at R51.30 level, with the HEAD at the HIGHS of R58.50 prices................so lets see how it continues.  IF it cannot make another higher higher (which seems to be playing out), then I see the share price pulling back initially to its 20day MA of R55.95, 50day MA of R54.22 or its 100day MA of R51.85 (which is potentially the RIGHT SHOULDER of this potential H&S formation setup).  If it does fall to this low level, that would be a retracement of 10% retracement........Don't think it will fall that much, so realistically around that R52-53 level I would be accumulating.

Just throwing it out there....

 

[Gspot]

Around the 17th April I noted a small potential H&S formation on the daily for Discovery, with me holding back on a trade around that right shoulder level of  R134/R135 level..  

Seems that has played out nicely now...........see a potential entry at R129/R130 (1/3 entry on that entry price).

 

Target price would be that R140 all time high. 

[Gspot]

Pilotpilot, on 29 Apr 2015 - 1:15 PM, said:

*****

 

I don't want to be doom prophet, but APN has broken its 4 year bull support on around 20 March and re-tested the bottom 10-16 April and this is now resistance.

It also broke 30/60/ and 200 dma. APN could fall out of the sky with no support at the moment. In my book it has turned into a full bear and the bounces will be short to the up. 

 

I'm would be short below 200 DMA @ R372-50

 

Good luck if you're going to stay long.

 

Totally agree with that statement!!

Although I would not be shorting (but rather accumulating for CFD trade nearer to some "reasonable" level.........which I am thinking would be great to buy around the R340 level, but happy to start accumulating from R360 level (like Delta 1/3 buying strategy).....

[Pilotpilot]

(*****), on 29 Apr 2015 - 10:45 AM, said:

long punt again APN 36500..risky but just can't resist!

*****

 

I don't want to be doom prophet, but APN has broken its 4 year bull support on around 20 March and re-tested the bottom 10-16 April and this is now resistance.

It also broke 30/60/ and 200 dma. APN could fall out of the sky with no support at the moment. In my book it has turned into a full bear and the bounces will be short to the up. 

 

I'm would be short below 200 DMA @ R372-50

 

Good luck if you're going to stay long.

[ianamst]

yr welcome Angazi,  If I had to choose between long or short for TRU at this point in time I would definitely be in the long camp.

[Angazi]

Thanks for the input ianamst!

[ianamst]

have to learn to have more faith in calls...TRU drifting down......Delta, although 'hope' is definitely not the best strategy I think and hope APN is close to the bottom again....still kicking myself for not following original plan of off-loading at least 50% of APN at 400+

[ianamst]

Angazi...possible long TRU from 9000+-.  I look at shares and trade in their current range.  Example - prior to the rise of TRU to 9700 its trading range was 8500-9600.  Within that range it then traded, and was very volatile, between 8700-9200.  So, currently for me TRU is sitting in the middle of 'my trading range' and has potential to move 5-6% either way.  I prefer to be closer to the extreme of the range.......and at that point, dependent upon certain indicators and current conditions effectuate a staggered entry.  It's pointless trying to pick a 'top' or a 'bottom' we just can't do it.........999 times out of 1000 there will be more up/downside from entry.  Just my opinion, hope it heps.

[AJS]

(*****), on 29 Apr 2015 - 10:45 AM, said:

long punt again APN 36500..risky but just can't resist!

 

I am doubtful that the H&S will fully play out to be honest.  Okes who were punting from R400 and below are now offloading to you!

 

Looking to buy some soon as well.

[delta66]

walter10, on 29 Apr 2015 - 11:39 AM, said:

I Have a stupid question. Can one go long and short on the same share and the same time with a stop in place on both.

Delta, I can see why you want to go long on APN from here but I am also not sure that it won't tank to R330 and I have to leave my computer now for the rest of the day. So if the market decides it's course one of my trades will get taken out with the stop and hopefully the other one will run.

 

Or is this just a stupid thing to do?

there are no stupid questions   wouldn't advocate this play Walter.  better keeping it simple

[delta66]

Ratel, on 29 Apr 2015 - 11:52 AM, said:

order long on TKG at R80. Not sure if it will fill.

been trying to get in 8000 for some time but that trading statement could pull it sub 80's possibly down 7400-7600

 

head on a swivel and on my watchlist!

[Ratel]

order long on TKG at R80. Not sure if it will fill.

[delta66]

(*****), on 29 Apr 2015 - 11:14 AM, said:

order long TRU 8900>tp 9400

strike 8901

[walter10]

(*****), on 29 Apr 2015 - 10:45 AM, said:

long punt again APN 36500..risky but just can't resist!

I Have a stupid question. Can one go long and short on the same share and the same time with a stop in place on both.

Delta, I can see why you want to go long on APN from here but I am also not sure that it won't tank to R330 and I have to leave my computer now for the rest of the day. So if the market decides it's course one of my trades will get taken out with the stop and hopefully the other one will run.

 

Or is this just a stupid thing to do?

[Angazi]

I'm long TRU from 8912

 

[delta66]

order long TRU 8900>tp 9400

[delta66]

long punt again APN 36500..risky but just can't resist!

[Angazi]

Possible long TRU from this position?

 

[crowe]

HDB, on 29 Apr 2015 - 07:52 AM, said:

Arrogance is Bliss, ignorance is merely what people here have failed to recognise how clever and smart  a trader  I am!!!I  I juts like to think that my arrogance, impetuosity, impatience, selfishness and greed are the qualities that make me the trader I am!!

Remember it is not a sign of arrogance and being smart  for the King to rule. That is what he is there for!!!!

 

So get stuffed!!!!
 

 

Maybe you should go BUY yourself some friends and some better qualities then! Seems you have all the wrong qualities to make you a good person to take advice from..... nevermind that its after the fact.

 

tsek!

Edited by crowe, 29 April 2015 - 12:15 PM.

[delta66]

agree on TRU..closing 8980