Doddle

Airtel Africa Resistance Broken - All Time High In Sight

Long
LSE:AAF   AIRTEL AFRICA PLC ORD USD0.50
Airtel Africa has been in an uptrend since May 20 and has been forming bull flags with a following period of consolidation. This has happened twice in the current uptrend with each upward thrust followed by consolidation which forms an ascending triangle pattern. Price has just broken out of the 83p resistance and has since moved higher. Look for a retest of the 83p and enter a position here, however there is a risk that this price won't be seen before the next rally (see previous bull flag patterns).

Fundamentals on this company are also fantastic and they are currently yielding 5.3%, therefore offer a good long term investment.

Disclaimer: I speculated the breakout and bought in at 75p.