PPC broke out nicely above the 5 day MA with RSI now above 30 level and ATR at low point. Nice gap to fill upwards to 50 day MA (118 price level). Breaking 118 levels, we can see previous resistance being retested at 180 levels. Entry 83, stop 63 with full target 176. Reward to Risk ratio 4.5.
Disclaimer: My analysis should not be construed as financial advise. Share trading is risky and unpredictable at best. I'm just sharing what I see.
What’s the reason for such Strong Resistance and the share actually trading at such an undervalued level for so long ?
The strangest part is this share has been bought up like Crazy by it’s own Directors to the tune of 61 million shares YTD spending R115 million @ ave of R1.85 ... Wow 😯
ebially5710
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Don’t you think there is a strong resistance at R1.10?
StarChaser74
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@ebially5710, yes even as low as 107. 3 June, PPC ran like crazy to this level and retraced to close the day on 96.
The strangest part is this share has been bought up like Crazy by it’s own Directors to the tune of 61 million shares YTD spending R115 million @ ave of R1.85 ... Wow 😯