Pendal Group has been established since 1960 and with financial companies in developed countries picking up steam, Pendal looks to benefit from the stimulus pumped into the economy. Despite the Covid challenges, Pendal is set to shine.
Here is a look at Pendal and TA perspective, it has been turning around 6th and 7th of the last 3 months (Nov, Dec 2020 and Jan...
For the first time since the stock price peaked at 13.26 in May 2017, the weekly price bar penetrated the red multi month downtrend line.
If this is a valid breakout, further consolidations in the lower time frame would likely to signal a buying opportunity to catch the potential wave (5) rally.
Note: divergence between share price and technical indicators
With this stock it had a massive drop to it's support level of $7.43 forming a bullish inverted hammer on the daily, this is a key level for this stock because it's below the RSI level of 30 and it's near new monthly low as well. Looking to buy this stock to the upside just due to TA way to over extended.