Breakouts: 8 August 2023

Some breakouts over the past week

Breakouts: 8 August 2023

JSE:EXX (Exxaro)

Negative break. Significant lower low for this stock in a strong down trend. Next target is 11700 perhaps some support at 13850 first.

JSE:SUR (Spur)

Positive break of the ascending triangle. Opening up 2600 as the next target.

JSE:AFE (AECI Limited)

Positive break from the symmetrical triangle. Full target is 11360.

JSE:CPI (Capitec)

Positive break. Potentially a bull flag breakout here. Downward channel appears to be over and evidence is accumulating for the start of an up trend.

JSE:JBL (Jubilee)

Negative break. Strong down trend continues to print lower highs and lower lows. Next stop 128.


Negative break. Descneding triangle (series of lower highs and lower lows). Reverting back to the trendline.

JSE:WHL (Woolies)

Positive break. Golden cross. Just not a neat chart quite erratic with wild swings that may not work for your trading startegy.

JSE:SHP (Shoprite)

Positive break. Golden cross. Looking to start an uptrend.


Negative break. Lower low. Strong down trend and descending triangle. expected to continue lower - unless price signals something different.

US:TDG (Transdigm)

Positive break. Trending up.

US:FSLY (Fastly)

Postive break. Base forming and looking to start an uptrend. An inverse head and shoulders. The 50MA has moved above the 200MA for a golden cross. Projecting a move to $30.

US:WMT (Walmart)

Positive break for an all time high. Trending up nicely with a series of higher highs and lows. if one is holding - the signal to consider exiting is a lower low on price specifically one that prints below the 200MA or trend line.