Broadening Formation has formed on Netcare which I like to call a Vuvuzela formation. Range bounded means the indicators are Null and Void. We need to wait for a break above or below the broadening formation - before a trend is chosen and bias. R15.67 to the first up target before it turns down
Netcare a range consolidation but we might see a spike to the upside pretty soon
netcare seems as it it wants break out of the triangle formation a move higher is possble
JSE:NTC Made inverted head and shoulders last year that confirmed with target around 2230. Unfortunately for bulls it never pick up momentum and continue trading sideways. On Friday it opened around neckline that acted as support. It could be good long with SL close bellow neckline and target still around 2230/2250
Netcare has shown high volume during a small redistribution trading range. Some buying has taken place but supply has overcome the demand. There is still supply but no demand indicated by the low volume. Price is continuing to be marked down.