Cup & handle formation Long

Description

⋅ Apr 29, 2020 2:35 PM

Bullish cup & handle formation forming, I'm looking to go long here.

Very similar chart to the Sasol cup & handle I called recently.

Let me knows your thoughts.

Trend Analysis

Comments

Alloys

⋅ May 27, 2020 8:57 AM

With alcohol being sold from 1 June, i am definately buying. Whats your thought?

RabsMavh

⋅ May 29, 2020 5:47 PM

@Alloys, im with you on that one...im anticipating DGH closing out around 82 to 84 by Tuesday 2nd of June..

geraldvanwyk84

⋅ Apr 30, 2020 5:17 PM

Doesn't form as neat a cup and handle as the Sasol one does. I think it's more a consolidation and if it follows today's trade might confirm a rectangle instead. Early days, but with alcohol continued to be banned under lockdown restrictions it could go test that support level at R67.98. Just my thoughts.

Fabco

⋅ Apr 30, 2020 7:37 AM

You rate there will be equal success found with Distell like with Sasol? From your pattern formation

wesbill

⋅ Apr 30, 2020 12:04 PM

@Fabco, difficult to say as it hasn't broken out yet.