Inv Head and Shoulders has formed for LHC.
We just need the final right shoulder to form, break up and out of the pattern.
Then we will see buying take over, driving the price up.
Price >200
RSI>50
Target 1 will be R23.78
ABOUT THE COMPANY
Life Healthcare is one of the largest private hospital operators in South Africa, providing acute hospital care across...
W Formation formed, we then had some high volatility around the price.
Luckily, the stop loss would have been below the pattern.
The indicators were all showing bullish signs.
7>21>200
RSI>50
Target struck at R21.34
ABOUT THE COMPANY
Life Healthcare Group Holdings Limited was founded in 1983 and is headquartered in Johannesburg, South Africa.
Life...
W Formation since Sep 2022. It's been moving in a sideways range without any promising direction.
Then in February we had a breakaway gap.
This is where the price jumped from the sideways range into an uptrend.
And most sellers and stop losses were hit.
This showed strong upside to come.
7>21>200
RSI>50
Target R21.39
WARNING
Gaps like to close 70% of the...
- Price is up against the 200ma
- A positive push through could see the inverted head & shoulders play out
- Confirmation is needed so currently neutral
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:LHC is looking good to break through the fractal from 11 July. If it confirms above this, it could make a move to the resistance level at around 2800.
JSE:LHC has broken through a descending resistance line which is also at a support level. I will enter a log position if it breaks through the fractal which is looking quite promising.
JSE:LHC has just broken out of a ascending triangle that it has been forming since mid November last year. Because of this I have entered a long position.
An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along...
