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.