Weekly game plan 16 August 2020

We’re not going to get into too much detail here today. The world is looking forward to a COVID-19 vaccine and we think that markets will likely continue to respond positively. On the home front, it seems that most of the lockdown restrictions are being lifted as well, which will likely positively boost selected sectors and stocks in the week ahead.

S&P500

A mere stones-throw away from making those new all-time record highs.

Bitcoin

BTC is looking very strong. A nice inverse head and shoulders is busying playing out also see tightening ‘steps’ higher (that little flat top triangle).

AngloGold

ANG is pretty interesting as there is still a rather high likelihood that it will continue to trend higher in short-to-medium-term. The fact that price is currently below both our key trendlines and the 50 day moving average is making us think that it is in the accumulation zone and that buying down here is probably the right call.

Anheuser Busch Inbev

ANH seems to have gotten clear of the 200 day moving average. The setup is looking good.

Bid Corp

Still range bound with no trading signals for now.

Discovery

DSY is looking interesting. It’s also a hot setup amongst our traders. It looks like it is ticking all the boxes; 3 for 3 buy signals on the Stochastic, 2 for 2 buy signals on the MACD, a strong relative outperformer, golden cross, break of resistance, new high… looking very good indeed.

Glencore

GLN testing that moving average (and breakout). Higher possible risk-reward on this long setup currently available.

Imperial

IPL is starting to look like it might turn. We note that the falling wedge has broken. This could be the end of the down move and the start of a relief rally.

Kumba Iron Ore

Slow and steady she goes.

MTN

Took a while (and a retest), but eventually the 200 day moving average target was hit.

ALSI

The trend is up…

*Please note that these trade ideas form part of a larger weekly plan and the value of financial products can increase as well as decrease over time, depending on the value of the underlying securities and market conditions. The risk of loss arising from trading in Contracts for Difference can be substantial. You should carefully consider whether such investments are suitable for you in the light of your circumstances and financial resources.

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