And then Cappitec took off .... Patience

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Derek  26 Jan 2018

Morning,

International:
After most indices took a breather the previous day, almost all of them started steaming ahead again.

I show the HangSeng, and do notice that the EMA8 and trend line was never threatened. Similar with Tencent.



Lets show Tesla again. It broke first resistance, but could not break the second one. Notice the divergence and that trend lines are broken.



JSE Technical:
Well, you cannot say I did not warn you a few days in a row. When Capitec finally took off, it moved very fast. EMA8 and trend line broken. Notice where FrontRunner broke up and also the break of its trend line. The lagging MACD has not broken yet. You seldom see such a perfect setup, mostly the graphs are more complicated.



After SASOL made a false breakout above resistance, it fell back again. And then with the higher oil price, it in one day smashed the resistance again. Lets see if it can stay above this time round?



You need a lot of patience to wait for the right oppertunities in the market. If you do not have patience, like me, you need to learn it fast or stay away from the market.

You must have a great day.
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