This kind of analysis was never meant for day traders of the ALSI,who follow very short leads.We and many of our friends find it invaluable for WARRANTS and other longer term derivitives ,from a few days and up to weeks at times or longer.We have had great success using this graph.Do remember to do your own research and observe other indicators as well.
All movement at the moment seems to be on the long side The rise has been quite rapid,but with so much good news flowing through retreats are unlikely to be very great at the moment and each pull back is likely to led to a further advance
AGL,KIO,EXX and BIL are slightly overbought
The rest are around 50% and are still going up ,namely AMS,IMP,SAB,SOL
ACL is coming off the bottom so has furthest to go.We expect all to bounce along the top before becoming very overbought ,probably in a week or longer time.
Also of importance although not the sole indicator is that the Rand is strengthening against the American dollar .In the last downward movement it reached /R6.90 to the Dollar.Now its running the other way and is at R6.75 to the dollar. LAST TIME IT REACHED 6.66 IT STARTED TO REVERSE.AT THE MOMENT THE MOMENTUM IS SO STRONG THAT IT MIGHT REACH THE 6.50 + BEFORE PUTS AGAIN COME INTO VOGUE. SO LONG IT IS FOR NOW.
All movement at the moment seems to be on the long side The rise has been quite rapid,but with so much good news flowing through retreats are unlikely to be very great at the moment and each pull back is likely to led to a further advance
AGL,KIO,EXX and BIL are slightly overbought
The rest are around 50% and are still going up ,namely AMS,IMP,SAB,SOL
ACL is coming off the bottom so has furthest to go.We expect all to bounce along the top before becoming very overbought ,probably in a week or longer time.
Also of importance although not the sole indicator is that the Rand is strengthening against the American dollar .In the last downward movement it reached /R6.90 to the Dollar.Now its running the other way and is at R6.75 to the dollar. LAST TIME IT REACHED 6.66 IT STARTED TO REVERSE.AT THE MOMENT THE MOMENTUM IS SO STRONG THAT IT MIGHT REACH THE 6.50 + BEFORE PUTS AGAIN COME INTO VOGUE. SO LONG IT IS FOR NOW.
