UPDATE: Target reached Nampak at R271.81 what's next?
Nampak shot up a LOT faster than I ever imagined.
And it destroyed the first target at R271.81.
Problem is the uptrend is extremely steep which can signal flat panic amongst the buyers. I would now wait for a 50% pull back from the most recent low and high to about R243 and then some consolidation before it runs up again.
It's still very bullish but there needs to be some form of equilibrium for the market.
Let's see.
And it destroyed the first target at R271.81.
Problem is the uptrend is extremely steep which can signal flat panic amongst the buyers. I would now wait for a 50% pull back from the most recent low and high to about R243 and then some consolidation before it runs up again.
It's still very bullish but there needs to be some form of equilibrium for the market.
Let's see.
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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