Breakouts 2 October 2020
![Breakouts 2 October 2020](/content/images/size/w1200/2020/10/EQU.ZA.MTH.png)
AGL (Anglo American)
![](https://stockpicks.co.za/content/images/2020/10/Screen-Shot-2020-10-02-at-09.05.13.png)
Looks very sideways. Lots of movement within the megaphone but as a long term investor and trend trader...the trend is not strong. A clear break is needed.
ADI (Adapt IT)
![](https://stockpicks.co.za/content/images/2020/10/Screen-Shot-2020-10-02-at-09.08.58.png)
A break above the resistance with a very negative looking candle. In the context of this down trend it is advisable to stick with the direction of the trend until a significant tide shirt happens.
SBAOIL (Standard Bank Oil ETN)
![](https://stockpicks.co.za/content/images/2020/10/Screen-Shot-2020-10-02-at-09.11.04.png)
Potencially forming an inverse cup and handle here. Keep a close eye on this and the oil price. If that lower low is formed after that lower high that signals a continuation of the down trend.
MTH (Motus)
![](https://stockpicks.co.za/content/images/2020/10/Screen-Shot-2020-10-02-at-09.13.32.png)
A big move against the overriding trend. Even an inverse cup and handle depending on how big you like your cups and small your handles. A bit of indecision signalled by that doji candle. I think we should wait for more evidence.
Comments ()