Box formation is strong with CML. We need to wait for the price to break up or down from the formation, or it can be a long sideways move. If it breaks up the target will be R46.00 My bias however is more to the bearish side. and so if the price breaks below the current uptrend line and below the box formation, it's pretty much a given. Provided that that the...
The CML broke above the Triple Bottom and just made a massive fakeout and shakeout. It hit the stop loss as I warned from the last analysis, the previous trend was sideways. This made the probability medium for a trade. But this comes with the territory and we need the price to break out into a confirmed trend.
In the pipeline is seems Coronation is forming an Inverse Head And Shoulders pattern. We seem the upside potential on the JSE based on the last analysis I did. The first target will be to come down a bit, break above the neckline and then head to R41.58
Is #CML #Coronation a buy at these levels? Well on a weekly graph, over the past couple of years this share has traded in a descending channel. We are currently just below the mid-point of this channel. Image 1 TD indicator on the weekly chart shows extreme oversold levels and we have reached a perfected 9. Image 2 The stochastic indicator shows extreme...
CML is trying to get our of a giant falling wedge. Buy the breakout of the falling wedge and let it run.
Coronation Fund Managers (JSE:CML) held a massive level of horizontal support between R38 and R39 since the early weeks of 2019. After testing this level on numerous occasions, the bears finally got the final break in March this year, which pushed the stock as low as R25.00. Since bottoming out at around R25, the stock has spent the last couple of weeks...