PeetSerfontein
Long

CPI - counter-trend rally possible?

JSE:CPI   CAPITEC BANK HLDGS LTD
Crossing above its 13- and 21-day simple moving averages. First bullish crossing in the last 44 days!
Bullish ParSAR crossing. First signal in the last 6 days.
Crossing above its 8-day linear regression line. First crossing in the last 28 days!
RSI on weekly chart is at a reading of 22. Oversold.
RSI on monthly chart is at a reading of 39. Moderate oversold.
RSI on daily chart retracted from oversold territory.
Is a counter-trend idea. Adjust risk accordingly. Remains in a declining channel pattern (see the black parallel lines).
Time to exit: +-/ 16 September 2019.
Trade closed: target reached
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