MarcoOlevano

$JSEAPN Aspen to face a fierce test against the 20 week ma

JSE:APN   ASPEN PHARMACARE HLDGS LTD
The 20 week moving average ( wma ) has been been a tough nut to crack for Aspen since its rapid decline started back in September 2018. The 20 wma currently sits @ 93.89. If aspen can gain some traction above the 20 wma , see a close above R90.00 on the weekly (above the previous floor), one could see the stock gain some further traction with a first target at the 50wma (+-R118.00) currently. Encouraging is the fact that the RSI has pushed above the 40 resistance level which has also halted any previous advances in the share price.

Comment: went slightly above the resistance level but seems like the 20 wma is still the level to break...
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