Investec price is caught in a rising wedge and the weekly cycle is nearing a timing band where we see a swing high. Once the swing high is set we can expect price to trend downwards and close below the support line. At that point we would be watching whether price goes below R94.12, this would mean a failed weekly cycle signalling price descends into a yearly cycle low, a weekly failure early into a cycle means a severe bear market for the share.
Comment:
INP has set a swing high, now watching for price to breakdown from the rising wedge.