$JSESYG - Sygnia Ltd: How Long Will The Consolidation Last?
Sygnia had a good run from April 2020 rallying from R6,54 to a peak at R21,25 in February 2021.
What is most positive is that this rally unfolded in five waves labelled (1) to (5).
Since the peak, the share has traded in a clear consolidation manner moving generally sideways.
This adds further bullishness as the bears have not really taken control but its more a case of the bulls taking a breather.
It's hard to say what corrective pattern is unfolding but the long-term view remains bullish.
What is most positive is that this rally unfolded in five waves labelled (1) to (5).
Since the peak, the share has traded in a clear consolidation manner moving generally sideways.
This adds further bullishness as the bears have not really taken control but its more a case of the bulls taking a breather.
It's hard to say what corrective pattern is unfolding but the long-term view remains bullish.