AIL offers disruptive banking solutions in South Africa.
With such a strong monthly downtrend, we will need some sideways consolidation in this range, in order for us to change the trend and ultimately move higher.
Given the current economic climate in emerging markets, this is one that I am putting on my watchlist.
If we were to see further consolidation at...
The market is approaching the 48,940 Support. 1M is supported there (RSI = 52.867, MACD = 574.500, Highs/Lows = 0.0000) and the current dip is a solid medium term buy opportunity. Assuming that a roughly -2% Lower High sequence will be maintained we place the next medium term target at 52,200.
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"On Wednesday the share tested and rebounded off the prior swing lows between 102 and 103.50. This appears to be a range-trading opportunity, with the upside target being the prior highs of 119. " Lester Davids, Trading Desk analyst, Unum Capital.
Keep an eye on USDZAR as this will continue to impact South African retailers.
