Making lower highs recently and now on support, a break of support could mean a test of lower levels 13000, 12400. Wait for a break on this one. We could see another lower high before then.
Bleak picture for ZAR. Technically looking weak.
Flat top triangle breakout with a 6650 target
After bear flag break this one is basically on the target
Bull flag break and first target is in the pipeline.
Bear flag break and 7250 target looming
Inverted head and shoulders breakout and retest. I think this share is poised to go higher. Looks like good value on paper as well.
Continued ZAR weakness will hurt an already overtaxed economy.
I will be waiting for resistance around the 900 level to kick in. Expecting a little bit of consolidation at that level. My approach would be to get in at a lower level for a move to 987 as a first target.
After the bull flag break the 2150 target is looming. (Warning - Sometimes wide spreads on bid and offer prices)
What is it going to be this time around ? Will the channel resume ? ZAR strength......
Take care in taking long positions at these levels. Consolidation overdue.
Reaching some resistance. Will it break, or move lower to test the bottom of the channel ?