Haven't called this stock too well this year, however after the magnificent rally we have seen of late, the stock may have gone too far too soon. Firstly if you look at purely the candlestick formation after today's trade, we are possibly witnessing the formation of an evening star reversal formation (tbc tomorrow). Secondly, we are starting to see volume evaporate on the move higher which is a possible clue that buyers are no longer interested in chasing price at such levels. Thirdly, we are starting to see some bearish divergence on the RSI (price has made higher high, not confirmed by a lower high in the RSI indicator). Watch for a possible reversal here. Price very very extended from major moving averages, so consolidation/correction very likely from here.. Would hope to see at least R400 on a shorter term pull back
"If you do what you love, you'll never work a day in your life" - Marc Anthony
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"If you do what you love, you'll never work a day in your life" - Marc Anthony
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。