Looking Better
Things are looking better from the last post. Interesting times ahead...
![Looking Better](/content/images/size/w1200/2023/11/looking-up.jpg)
Things were looking horrendous at the end of October 2023 - but a good run on US stocks has made the mid November 2023 - technical analysis update - look better.
- On the up: USDZAR, BTCUSD, S&P500 (Maybe...who knows), Natural gas, US:MSRT (Microstrategy), US:AKAM, US:AVGO, US:DELL, US:ADBE, US:AMD, JSE:PPH,
- On the down: US:AR (Antero Resources), JSE:GLN, JSE:ETFPLT, JSE:JBL,
- Sideways: Crude Oil
USDZAR
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-21.23.09.png)
Bounce off $18.29 for a higher low. Upward channel and trend still in effect. Looking for that break above $19.40 to open up $21 in 2024.
BTCUSD
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-21.25.38.png)
Trending up.
GSPC (S&P 500)
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-21.29.50.png)
Unfortunately 3900 is the next stop - End of October 2023
Call turned out to be wrong. Could be that the short term downward channel now turns into a bull flag. The higher high gives credence. There is still 4500 and 4600 as resistance upward. Still some indecision so will hold back on making a call now - will be watching for higher highs and higher lows to give indications.
CL (Crude Oil)
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-21.36.01.png)
Rolling over. Trend starting to go sideways.
NG (Natural Gas)
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-21.37.27-1.png)
Reversed however no lower low yet. Trend still up. Looking good and perhaps a good chance to buy.
JSE:GLN (Glencore)
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-21.42.08.png)
Lower low. Descending triangle. Starting to trend down.
JSE:ANH (Anheuser-Busch)
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-21.46.38.png)
Positive rbeak - higher high. The head and shoulders was looking ominous but things seem to have calmed down now. Expect some sideways movement for a time.
JSE:ETFPLT (Africa Platinum)
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-21.50.17.png)
Negative break. Huge head and shoulders pattern. Worrying. Affects some miners more than others.
JSE:DCP (Dischem)
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-21.53.16.png)
Psotive break. Lamppoll formation. Higher highs. Down trend over?
JSE:MRP (MrPrice)
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-23.02.33.png)
Still descending.
JSE:PPH (Pepkor)
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-23.03.30.png)
Positive break. Cup and handle. Lining up for golden cross.
JSE:JBL (Jubilee)
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-23.06.21.png)
Cracked. Descending triangle. Very strong down slope.
US:AKAM (Akamai)
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-21.48.20.png)
Positive break. Trend to continue up.
US:AVGO (Broadcomm)
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-21.44.42.png)
Higher high. Looking to resume the uptrend.
US:DELL
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-21.49.20.png)
Positive break. Another one resuming price active on what is a strong uptrend.
US:MSTR (Microstrategy)
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-21.51.32.png)
Positive break. Cup and handle. Trneding up. Proxy for the bitcoin price.
US:ADBE (Adobe)
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-21.54.50.png)
Postive break. Resuming the uptrend.
US:AMD
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-21.56.40.png)
Positive break from the falling wedge. Going to $130.
US:AR (Antero Resources)
![](https://stockpicks.co.za/content/images/2023/11/Screen-Shot-2023-11-12-at-23.04.52.png)
Reverses back into the sideways channel. Was looking decent 2 weeks ago, unfortunately it has turned against the tide.
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