Breakouts: 02 July 2021
A look at breakouts in USDZAR, Blue label telecoms, Oceana, Mix telematics and some satrix ETFs that continue to look very good.
FOREX:USDZAR (USDZAR)
Positive break. Break of the descending trendline. Inverse cup and handle pattern. Looking for a move above R14.51 to get the show on the road and end this down trend.
JSE:BLU (Blue Label Telecoms)
Positive break. Break of the descending triangle and a higher high. Flag pattern broken and I believe a stronger tendency to move up to R5.35.
JSE:OCE (Oceana)
Negative break. Lower low. It is sideways or down for me for the foreseeable future. R74.44 is proving a very strong resistance level. This stock may go to R58.00.
JSE:MIX (Mix Telematics)
Positive break. Bit of a messy chart but a big cup and handle pattern - kind of an inverse head and shoulders. Both the 50MA and 200MA are moving up. Looking good.
JSE:STXNDQ (Satrix Nasdaq ETF)
Positive break. Third time lucky and avoided the triple top at the R118 level. Combined with a possible positive move in $USDZAR - looking good.
JSE:STXWDM (Satrix MSCI World Feeder ETF)
Positive break.
JSE:STX500 (Satrix SP500 Feeder ETF)
Positive break. Not much commentary needed - it is going up. This ETF and the one above have served me well for years now.
Time in the market, not timing the market.
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