Preference shares would have been out of favour recently in an interest rate hike environment, but with the possibility of further rates hikes looking more likely to at least pause in the near future, could this be the time to get involved..? A decent yield with the possibility of capital appreciation could make ABSA pref's an interesting play. Technically, there...
Absa Market currently in a corrective phase. The bullish reversal rally found resistance at 64500 and i expect it to go further down and retest support between 5600 and 55100. Then look for buying opportunities there, targeting 76250 - 79700 for taking profit.
ABSA Bank Limited (ABSP)The walls are bloody for ABSA, which clearly shows momentum to the downside on the monthly timeframe (check out my full analysis on my instagram account @heisenberg_trader), as prices are trickling down, with momentary pauses in the form of bear flag patterns. The long term trend is clearly downwards, as prices have been forming a series of...
I will be looking at Getting Long on ABSA on the retest to the Pivot if we break out again I like the falling wedge Pattern here and by the looks of it the Volume is increasing The trendline is support for now We broke out of the resistance and SR flipped Looks Bullish