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Timonrosso
Mar 9, 2023 11:30 AM

Life Health Care group showing strong upside to R21.39 WARNING Long

LIFE HEALTHC GRP HLDGS LTDJSE

Description

W Formation since Sep 2022. It's been moving in a sideways range without any promising direction.
Then in February we had a breakaway gap.
This is where the price jumped from the sideways range into an uptrend.
And most sellers and stop losses were hit.
This showed strong upside to come.
7>21>200
RSI>50
Target R21.39
WARNING
Gaps like to close 70% of the time. And I don't generally like taking any trades where there are prior gaps.
I'd take this trade as a medium probability one.

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