Investec PLC remains one of my favorite picks for 2019. Not only should we see value unlocking through its planned unbundling of the asset management business, but most analysts forecasts (Source: Thomson Reuters consensus) targets the share price, 25% higher in 12 months.
Technically, we’re seeing a nice little turn in the 50-day moving average (from downward upward). Should we see a breach of the horizontal resistance at R90.78, the 200-day moving average at R92.06 could be next stop.
Any entry at current level should have to caution points. Trendline at R87.50, with a break at next caution level at the horizontal resistance R84.50.
Technically, we’re seeing a nice little turn in the 50-day moving average (from downward upward). Should we see a breach of the horizontal resistance at R90.78, the 200-day moving average at R92.06 could be next stop.
Any entry at current level should have to caution points. Trendline at R87.50, with a break at next caution level at the horizontal resistance R84.50.
Trade active:
Touched first horizontal resistance line today. Watch out for a possible break. If so, next target remaims R92.06.