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RossLarter

MRP - Ascending Triangle

Long
MR PRICE GROUP LTD (JSE:MRP)  
RossLarter Updated   
JSE:MRP   MR PRICE GROUP LTD
Trend Analysis Chart Patterns
5
0
trendanalysis chartpattern
MRP 's unaudited results came out on the 23rd of November, and the market loved them……up 6.14% on the day.
Since then it has broken up through the resistance line of the ascending triangle.

It might come back down to test the support, but things are looking good for a long position on this instrument. Exit could possibly be around the 27550 level.

Comment:
This trade went against us for a few days, but it formed a hammer candle yesterday which is a good reversal signal.
So, we remain in the trade for now
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