MarcoOlevano

MarcoOlevano Updated  Nov 19, 2023

I have no other ways to put this, but hard to see how this is negative with Nasdaq breaking above its bullish flag this week. Much higher targets in play here in the absence of some unknown which derails the rally.

MarcoOlevano Updated  Nov 19, 2023

USDZAR saw a bearish reversal off the important 18.75 level which was strong support previously. Should we trade below friday's low at 18.61, i suspect we will see a re-test of 18.43. However if no follow through of the reversal occurs and price manages to gain traction above 18.75 i would then expect the 18.90 level to come into play where we find the 50dma and...

MarcoOlevano Updated  Nov 19, 2023

Golds recent trading action has been quite sticky around the 200dma, so watch for a potential reverse off this mid 1930's level. An alternative scenario if this level fails is a deeper pullback to retest the channel which broke out.

MarcoOlevano Nov 17, 2023

This has to be one of the best looking Gold mining stocks you are going to find. Since 2008 it has consistently moved higher, something not often see in this volatile sector. A well-run operation and the chart proves just that. As this is a monthly chart, the time on this is more longer-term in nature but I think It's not a bad stock to put in the bottom drawer...

MarcoOlevano Nov 12, 2023

Alibaba still making higher swing lows on the daily. We recently broke out this falling wedge but have come back to retest the breakout. Important level to hold if the bulls want further upside. Results on 16th November could be a catalyst for a larger move

MarcoOlevano Nov 8, 2023

Palladium is starting to pique my interest. After retreating from as high as $3000 at the peak in April 21' - the commodity is now down 65% and reaching interesting long term levels. Firstly the current level at approximately $1025 is where palladium peaked as far as back in January 01' - almost 22 years ago. If this becomes a point of polarity, the previous...

MarcoOlevano Nov 2, 2023

The Might US Dollar Index aka the DIXIE, has reversed off the 107 resistance in what could possibly be a double top. Odd's are for a retest to the back of the recent rectangular range at 105.50. Should 105.50 break we could move to the measured target of 104.00. 200 day is at 103.55 and rising daily and we could potentially be headed for a retest should the risk...

MarcoOlevano Oct 26, 2023

META released a decent set of results last night, but trade action post market is very weak which makes me think there is a scenario where it could be headed as low as R240 to meet the Rising 200wma and previouys level of support at approx R245.00. Stock recently made a new high which was not confirmed by the RSI forming a lower high (bearish divergence). I would...

MarcoOlevano Oct 26, 2023

Woolworths has reversed off its bottom channel of relative strength vs. Truworths. RSI and MACD relatively depressed and should start to turn up. With the current state of the economy I believe Woollies should be better placed to withstand the economic storm than Truworths which is predominantly more of a 'luxury' clothing retailer. I think Woolies Food component...

MarcoOlevano Updated  Oct 25, 2023

The chart doesn't need much explaining. The stock is trying to reverse off the bottom of the 1-year channel while forming some divergence on the RSI. A move above todays high should hopefully see this gain some momentum, with a short term move to R119 possible. Larger target would be for this to trade back to the top of its channel over the last year at R144....

MarcoOlevano Oct 25, 2023

Looking to short Truworths between R71.50 and R73.15. Stop loss as a close above R75.50. Target R64.00 - R66.00 Broken uptrend Under Daily Pivot Short Term 20 ma turned down Lower highs on price

MarcoOlevano Updated  Oct 25, 2023

Ratings upgrade tomorrow and stock off to the races. Break and close above resistance at R117.00 should see this move to target between R132.50-R136.00. Stop on a close below R117

MarcoOlevano Updated  Oct 25, 2023

Constructive engulfing candle over prior 6 days closes on Woolies today. Old resistance R64.60 acting as support. Still enclosed in a channel which needs a break to the upside. 61.8 fib from May to Aug swing low and high has also held. A break out this channel and a close above the 200dma at approx R68.50 will really give the bulls something to really get excited...

MarcoOlevano Updated  Oct 25, 2023

First Rand made a lovely pin bar reversal off support on Monday and subsequently followed through today. I like this one as a long here with a stop below R60.00 and a target back to the 50% fib of recent high and low which also coincides with its yearly pivot point (=- R67.00). Also note bullish divergence where RSI is making higher lows even though price made...

MarcoOlevano Updated  Oct 25, 2023

Got to be brave trying to run infront of this steamroller, but we are starting to see signs of bearish divergence where price(yield) is making higher highs, not confirmed by the RSI and MACD which are currently making lower highs. This could be warning of a short term reprieve in yields which could be bullish risk assets. However, given the current environment...

MarcoOlevano Oct 20, 2023

Big support that held during June-September then subsequently broke down during late September, has been reclaimed, with silver now trading above the Volume Point of Control (where most volume was traded during that consolidation period). This looks better and better each day that passes. Next up 200dma at $23.30 but expect this to continue making progress to the upside.

MarcoOlevano Oct 17, 2023

Resource are very likely the place to be over the medium term. Satrix Resources which is a basket of the biggest resource stocks on the JSE is bouncing off a massive level of previous long term support which has now become support (Change of Polarity). This is a great area to accumulate for the long term in my opinion. Will be happy to review after a few months...

MarcoOlevano Oct 17, 2023

Keep an eye on SIbanye, multiple bullish divergence on stochastics and RSI reclaiming S1 Pivot. Ultimate test to turn the structure here is a close above R32.00 but signs are showing slowing momentum to the downside and a possible run coming up for Sibanye.