Allied Electronics Corp, or Altron (AEL), is an information and communications technology company which was started by Bill Venter in 1965. It has recently been re-focusing on its core business and has sold its 80% stake in Powertech and its 100% subsidiary, Altech UEC (a developer of set-top boxes). Powertech was also sold to a BEE consortium. Altron is in the...
Allied Electronics Corp, or Altron (AEL), is an information and communications technology company which was started by Bill Venter in 1965. It has recently been re-focusing on its core business and has sold its 80% stake in Powertech and its 100% subsidiary, Altech UEC (a developer of set-top boxes). Powertech was also sold to a BEE consortium. Altron is in the...
AEL been making higher highs and higher lows. It is now testing support and its 50dma. A close above R9 should be bullish and a move to R10 possible.
Trade ideas are my own and not financial advice.
The left shoulder has reached the top and at the same level as the right shoulder which is a good sign for a Shoulder-Head-Shoulder pattern.
The MACD and RSI look to still be strong so I have a feeling that we will see a RETEST of the R22 resistance and then maybe a drop or it could start the downtrend immediately.
Just watch it over the coming days as the SHS...
Is it a possible SHOULDER-HEAD-SHOULDER forming?
The MACD very close to make a positive move which can be a signal to complete the shoulder on the right.
We might see a downtrend at the end of our second shoulder or maybe a retest and then a downtrend.
I am not sure where the reversal might end, but wherever it ends it could be a good buy in opportunity.
I...
Daily chart is up by over 3 percent for this security industry stock, showing that investors don't trust Jacob Zuma's ex adjutant and his mouthing off to uneducated voters about caucasian majority tax payers being the chief cause the nation's sluggish economic growth. The world is also sick of hearing about apartheid's effects on the economy over 25 years later...
