East following US .... Most difficult to ....

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Derek  18 Apr 2018


The East is following the positive sentiment on the US market this morning.

The S&P500 broke the 50 day SMA (dark blue line). Notice how FrontRunner is staying above its moving average and not even Trump could make it dip below this line.

I showed Xerox Corp bouncing on support last week. It has now also broken the 50 SMA and even the lagging MACD has broken up. That thick green support line of mine was created quite a while ago with excellent results creating a gap. Those of you using TradeFX, just zoom out and you will see how this strong support was created.

Netflix was the winner yesterday in the S&P500 with a massive +9.19% gain. It has broken top resistance and I will change my red resistance line to green now. Broken resistance becomes future support! No magic here to pic the winners, I only invest in strong Trend Factor shares in the US, as there are so many to pick and choose from.

JSE Technical:
The JSE is not performing great compared to the US.

Instead of showing Naspers, I show Tencent that is driving it. Tencent bounced on support with divergence and we have the making here of a possible double bottom.

After its correction, AVI went into a long sideways movement. It has now broken out and also crossed the 50 SMA.

Most Difficult:
It is easy to buy any share, but most difficult to sell it. If the price turns against you, you do not want to take a loss. When it moves strong, you do not believe it can make a correction as it is your best performer. The only advice I can give is that when a share bites you, sell, before it bites you even more and do not be shy to take profits. Hopefully the technical indicators can help with your decision.

Enjoy your day.
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