Outsurance OUTperfoming JSE - Target R38.88

Cup and Handle has formed on this volatile stock.
The price has broken above the brim level and it looks like, it wants to rally.
Other indicators confirm upside momentum
7>21>200
RSI>50 - Higher lows
Target 1 will be at R38.88. We can expect higher, but I'm happy with a 1:1.78 R:R.

CONCERNS:
The JSE ALSI 40 just broke below the Symmetrical Triangle. This is bearish for the top 40 companies. And usually the BITs follow (Banks, Insurance and Telecomms). However, the must be a reason for the buying with Outsurance, maybe because of the new listing and investors are excited.

ABOUT THE COMPANY

Outsurance is a leading insurance company based in South Africa.

Founding:
Outsurance was founded in 1998 as a part of the Rand Merchant Investment Holdings Group (RMIH).

Pioneer:
It was the first South African insurer to offer a cash OUTbonus, a cashback bonus system, to policyholders who remain claim-free for a period of time.

Services:
The company offers various insurance products including car, home, life, and business insurance.

Geographical Presence:
In addition to its South African operations, Outsurance also has a presence in Australia, where it operates under the name "Youi."

Innovative App:
Outsurance has a mobile app that allows customers to manage their policies, submit claims, and track emergency assistance when needed.