The stock has formed a lovely bull flag and looks to be gearing up for a nice move towards target around R72
Ideally bulls don't want to see a daily close below R53 as it will negate the positive bias.
A bull flag is a bullish continuation pattern that occurs during an uptrend. It is formed by a sharp price increase (flagpole) followed by a consolidation period (flag) that is characterized by parallel support and resistance lines. The pattern is considered to be confirmed when the price breaks out of the flag in an upward direction
Ideally bulls don't want to see a daily close below R53 as it will negate the positive bias.
A bull flag is a bullish continuation pattern that occurs during an uptrend. It is formed by a sharp price increase (flagpole) followed by a consolidation period (flag) that is characterized by parallel support and resistance lines. The pattern is considered to be confirmed when the price breaks out of the flag in an upward direction
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.