Netcare has been consolidating between 1300 and 1526 for a while now. Lately it has moved up from the 1300 level and is set to test the upper channel resistance line soon. Watch for a break of that line @1526. A break would indicate a possible target of 1715. Wait for the break.
Netcare yet again failing to hold on to short term support and in fact, failing to hold onto any level really. Their results are late, which can't be good but I can't see how lock-down can be positive for them. I WILL short a bounce above 15.00. And I WILL bank it at 13.10. email@example.com. The chart is pretty much self explanatory
Not Financial Advice - Open to feedback good or bad
Netcare - NTC
Really sorry for the Ugly looking chart.
Current Price R15.50
We can see clear bull div on the weekly. Price seems to holding above the monthly support (Blue line). Wont mind taking a spot position with a stop loss below R13.50.
TP1 - R18.25 *
TP 2 - R20.00 *
Stop loss R13.50
Follow me on...
- Price is breaking down from with an head and shoulders target of around R10.50
- Note the retest of neckline failed
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Made inverted head and shoulders last year that confirmed with target around 2230.
Unfortunately for bulls it never pick up momentum and continue trading sideways.
On Friday it opened around neckline that acted as support. It could be good long with SL close bellow neckline and target still around 2230/2250
WHO IS NETCARE?
Netcare Ltd. is an investment holding company which operates through a number of subsidiaries in the health care and health services industry in South Africa. The company has over 25 000 employees and holds the highest market share in regards to private health care in South Africa.
The public health care system in South...
With great trading comes great responsibility and a little sacrifice.
It is not something you should take lightly, into your life.
This is a forever business where you can either screw it up or you can make a success from trading.
Before the year is up, I’m going to share with you my 5 top trades, you’ll need to take in order to achieve your trading goals for...