Breakouts: 05 January 2022

JSE:BTI (British American Tobacco)

Positive break. At the top of the sideways channel. Golden cross - the 50MA has moved above the 200MA. Will this be a sustained move or will the channel prove harder to breakout of?

JSE:REM (Remgro)

Positive break. Targeting a break above the cup and handle lip line at 14121.

JSE:ANH (Inbev)

Positive break. out of a cup and handle pattern. The target is 114000. It is still trapped in a sideways channel but price action gives the signs of upward momentum.

JSE:BID (Bidcorp)

Positive break. The trend line fits really well and gives us an idea of where draw-downs will end up. We are finally looking at a break of the ascending triangle - after a dip - and a sustained upward move.

JSE:STXNDQ (Satrix Nasdaq ETF)

Positive break above the 15000 level. Be wary though the space exiss for a move back to the trendline.

JSE:OMU (Old Mututal)

Positive move above the midline of the sideways channel. Not all good news though as we see a recent death cross. Failure to move above 1444 signals a lower high and makes a move down more likely.

JSE:MDI (Master Drilling)

Positive break however the head and shoulders pattern has formed. Amove above 1360 in the near future is requiredotherwise we are still on shaky ground.

JSE:HLM (Hulamin)

Positive break. Higher highs and lows. Targeting 500 and beyond...

US:ZM (Zoom)

Negative break. Horrible. Not one for me.

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