The stock has been on a significant trend up since the consolidation breakout in June 2023.
Since then, the 50-exponential moving average has acted as support and the stock reach a swing high of R12.80
There has been a recent sharp displacement below the moving average with a 20ema/50ema crossover, signaling short term bearishness. Price could pull back to the 200ema of next support around R10.
Moving averages are technical indicators commonly used by investors in the stock market.
An MA represents the average of closing prices of a security over a specific number of periods (days, weeks, etc.).
It is depicted as a line chart superimposed over a stock’s price action.
MAs help traders identify trends and potential entry or exit points.
Since then, the 50-exponential moving average has acted as support and the stock reach a swing high of R12.80
There has been a recent sharp displacement below the moving average with a 20ema/50ema crossover, signaling short term bearishness. Price could pull back to the 200ema of next support around R10.
Moving averages are technical indicators commonly used by investors in the stock market.
An MA represents the average of closing prices of a security over a specific number of periods (days, weeks, etc.).
It is depicted as a line chart superimposed over a stock’s price action.
MAs help traders identify trends and potential entry or exit points.