Fast For­ward

Finweek English Edition - - INSIGHT - Mox­ima Gama

FAILED PAT­TERN: A re­ver­sal be­low 620c/share would mean that ELI had falsely breached the up­per slope of its bullish pat­tern — with the RSI re­main­ing bear­ish. Trad­ing through the lower slope could steepen the bear trend to­wards the next sup­port level at 460c/share. REC­OM­MENDED TRADE: ELI’s pull-back on the ab­so­lute chart has af­fected its per­for­mance against its peers and rel­a­tive in­dices. There­fore, we rec­om­mend a neu­tral l ong po­si­tion above 760c/ share, pro­vided that the weekly RSI aban­dons i t s ma­jor bear trend. We would then sug­gest i nvestors reload ag­gres­sively above 1 000c/ s hare, or when ELI out­per­forms its peers. Founder of The

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