Or have we??? Sappi very sneakily breaking out of that wedge pattern. It almost feels like everyone forgot about the stock because nobody was interested. Well I'm interested now. Strengthening RSI and momentum indicator. The break out of that descending wedge can be considered bullish and the convergence of the 21 and 50 day moving averages must now act as a buying support. I still think the 200 day moving average will act as resistance but from here, we still have the potential of capturing 12.5% price move. I reckon we can buy this for a target of R29.00. (Sounds simple when I say it like that...)
Trade closed: target reached:
ALMOST THERE! TAKE THE MONEY!!