BRAIT SE

Finweek English Edition - - Marketplace Killer Trade - Mox­ima Gama

at 3 315c/share. Be­cause the three-week rel­a­tive strengthin­dex (3W RSI) is form­ing a sym­met­ri­cal tri­an­gle, cur­rent volatil­ity within a range could per­sist. A move above 3 940c/ share should see Brait retest its ma­jor re­sis­tance level at 4 625c. Breach­ing that level would end the long-term con­sol­i­da­tion and com­mence the as­cend­ing phase of a bot­tom­ing-up pat­tern to­wards a medium-term tar­get at 7 200c/share at first.

Go short: Re­frain from go­ing long if sup­port at 3 315c gives in. Down­side to 2 490c would be on the cards, with next sup­port be­ing at 1 660c/share. ■ ed­i­to­[email protected]­week.co.za

has been rated as one of the top five tech­ni­cal an­a­lysts in South Africa. She has been a tech­ni­cal an­a­lyst for 10 years, work­ing for BJM, Noah Fi­nan­cial In­no­va­tion and for Stan­dard Bank as part of the re­search team in the Trea­sury divi­sion of CIB.

SOURCE: Trad­ingView

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