For the second consecutive session, the share has been persistently flashing on the 'intraday highs'. The share has been trending higher since earnings in February but remains well off it's October 2016 JSE listing highs of R1925. At the current price of R1069.66, the share is trading below it's overhead supply and in line with the Feb-2020 breakdown level. With the Rand attempting to bottom, the share could potentially breach resistance and take a new leg higher.
Fundamentally, the outlook is improving with the group forecasting a "meaningfully" better 2021.
Long above R1088, with a target range of R1226 to R1290.
Stop: R985
Medium Term View.
Fundamentally, the outlook is improving with the group forecasting a "meaningfully" better 2021.
Long above R1088, with a target range of R1226 to R1290.
Stop: R985
Medium Term View.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.