Since our last Trade Update with Oceana, the market is still on track to R76.00.
The Quazimodo Inv Head and Shoulders seems to be working, but taking its damn time.
Also we have stronger bullish confirmation signals like
7>21
Price >200
RSI >50
All great signals for upside momentum
Here's general information about Oceana.
Oceana (founded in 1887 and...
I call this a Quazimodo INV H and S> it's because it's an unattractive pattern which isn't the greatest setup for traders when it comes to probabilities.
It's been in a sideways movement since 2 December 2021 fluctuating between a range.
Moving averages look good though 7>21>200 and RSI above 50 and making higher lows.
The first target is R76.00
Someone seems to be buying Oceana stock every time it drops below R70 since the Q1 results. Volume has remained high since then but some increased volume is again seen last week. Once the accumulation is complete we can expect prices to rise. One to watch.
