Breakouts: 7 November 2022

How-to-trade looks at a few stocks that moved on Friday featuring Bytes technology (JSE:BYI)

Breakouts: 7 November 2022
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JSE:IMP (Impala)

Positive break. Up from a double bottom. Overall trend is still down but we may be looking at a trend change.

JSE:AGL (Anglo American)

Positive break from a 4 month sideways channel. Big head and shoulders pattern still in play. Trend is down but with this higher high perhaps an early signal of change...

JSE:NVS (Novus)

Continues up. Nice upward trend as indicated in breakouts 15 august 2020. Full cup and handle target is 535.

JSE:NPH (Northam)

Another platinum stock looking better. Still a downward trend and channel but the higher high opens up for a short term positive move dependent on the underling metal price.

JSE:BYI (Bytes Technology Group)

Negative break from a huge inverse cup and handle. Trend is down. First stop is 6400 then move downward targets if the full projection is taken into account.

US:DOCN (Digital Ocean)

Negative break below the $31 target from insider breaks 17 Oct 2022. Set to continue lower.

COMM:BO (Soy Bean Oil)

Positive break. Continues to trend up. Heading for $84.