Reporting season will still .... Tip for the week

    All Channels      Market Reviews  

Derek  23 Apr 2018

Morning,

International:
Reporting season in the US will still influence the markets this week. Good results get rewarded and the bad ones get hammered.
The East got off to a slow start this week with small mixed moves.

This reporting season made the DOW break my green trend line and do notice that FrontRunner also broke its trend line. We are still in a correcting phase.



The results for Facebook comes out on Wednesday. After its previous correction it climbed back steadily until it is again in overbought territory. Results in an overbought territory? It will need very good results to push it further?



Citizens Financial Group has found strong support, but the results will have the final say.



JSE Technical:
After a long sideways movement, Dis-Chem is finally going to test top resistance again.



I must show Netcare again to illustrate one aspect of FrontRunner that you will not get in any other software. When FrontRunner moves strong above the top 3 green lines, it warns you that a new high is still coming. The price then made a J-curve and is now making the new highs. When one sees this, you must use the opportunity of the J-curve to accumulate. FrontRunner is the only indicator that I know off that gives you such a good prediction.



Tip of the week:
If you missed the run of the medical shares, it is best now to wait for ex-dividend. You will then see a short correction and get an opportunity again. Mediclinic already had a +15% gain for the week.

Enjoy your day.

Download
       TradeFX™       

 

Copyright © 2017 {Zoclee}™. All rights reserved.