Peet_Serfontein

PIK: mean reversion trade?

Long
JSE:PIK   PICK N PAY STORES LTD
Above 4300 supports a bullish trend direction. Crossing below this level will negate the bullish bias.
Upside price momentum supports the bullish trend .
At the lower range of the linear regression channel pattern - this increases the likelihood of a mean reversion trade.
MACD crossover supports a change in trend direction to bullish .
RIS leaves enough room for further upside price potential.
Remains a risky trade.


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