Triggering long on the Buy setup at 54.50 with a stop below the previous days low at 53.40.
Upside targets could be sizeable if the risk on theme spills over to the smaller banks that sold off on the back of the regional banking crisis.
Triggering Long on the H&S break at 39.70.
Stop below the recent low at 38.00.
1st Target 41.20 on the H&S count which co-incides with the recent high.
The semiconductor sector has been strong of late with NVDA closing on the Inverse H&S Neckline yesterday at 241.81.
The stock is currently -1% in the pre-market and looks good to BUY for a LONG after this consolidation on a convincing break of 242 with a target of 258.
Worth keeping an eye on NED as it approaches the top of its 1 year consolidation channel range.
Difficult to imagine it breaking out given the weak SA backdrop but maybe the latest results, share buyback and massive corporate renewable energy loan advances will be enough to trigger the breakout.
