The stock Has created an Inverse Head And Shoulders. Price has broken the neckline at price level R5.22 of which was a strong Resistance level for the stock. We no are seeing that price has created an ultimate high of R11.57 of which i strongly believe that its going to be tested for the 2nd time.
The stock had tested the lows of R10 of which is a very strong support level that held from 2009. The multiple bottom hits the stock created gives full confidence now that R40(resistance) is broken to the upside. There are other good fundamental factors that gives us an edge of good reasoning to why is the stock seeing positive gains( do your research on the company)
The stock has been on a downtrend from 2013 up to now. However, the current support level(R0.01) formed an Double Bottom Reversal pattern with divergence on the Relative Strength Index. This pattern is promisingly giving us confidence to the upside, however the stock will need to be backed by good fundamental reasoning for us to safely take trades.