Initially, I wrote that we could expect a break to the downside where there'll be a better entry for a short.
But the entry price never struck and the price turned up intot he channel.
Price is now breaking above the down channel, indicating a chosen direction - Up.
Other signs show some upside
7>21
RSI>50 - Bullish
Target R226.76
WARNING
I'm not too convinced...
This is just a short analysis of the potential price zones we could expect with Exxaro Resources Limited JSE:EXX . I think this company has good potential and a solid track record, good luck with everyone's investments I wish you well and a prosperous future!
This is merely an idea and not investing advice, tread carefully and invest on your own risk!!
Exxaro has been in an uptrend but the stride has been broken. There is divergence with the Volume RSI and more downside can be expected. Waiting for a pullback.
Exxaro has be in a strong upward stride. In the recent move from the oversold line there has been two stepping stone re-accumulations. The current re-accumulation is about to be broken which would continue the move to the overbought line.
