Netcare ready to break above the Vuvuzela?
Netcare has been in its downtrend since May 2023...
It shortly dropped from R16.00 down to R13.68.
And then, the price has been meandering in a downtrend below the 200MA since...
As long as it stays in the Vuvuzela Formation, it will continue to go down.
We need a strong breakout and for the price to close above the resistance of the pattern, before we put on our horns.
Once we're in, the first target will be to the top of the downtrend level at R16.19.
Until then, it's a waiting game.
It shortly dropped from R16.00 down to R13.68.
And then, the price has been meandering in a downtrend below the 200MA since...
As long as it stays in the Vuvuzela Formation, it will continue to go down.
We need a strong breakout and for the price to close above the resistance of the pattern, before we put on our horns.
Once we're in, the first target will be to the top of the downtrend level at R16.19.
Until then, it's a waiting game.
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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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