Capitec (JSE:CPI)
We have nice cup and handle formation on Capitec. Seems like the selling pressure might be over. I’m already long CPI at R1480 with a stop below the handle at R1233..20 on the first break. The share since came back hasn't taken out the previous low of the handle. Making a higher low, If we close on the other side of R1480 over the next few days or weeks, A second bite of the entry looks good with the stop the recent low around R1328. MInimum target for now remains R2048 using the height of the round bottom.
Read week 2 game plan villagetrader.co.za/2021/01/11/week-2-game-plan/
We have nice cup and handle formation on Capitec. Seems like the selling pressure might be over. I’m already long CPI at R1480 with a stop below the handle at R1233..20 on the first break. The share since came back hasn't taken out the previous low of the handle. Making a higher low, If we close on the other side of R1480 over the next few days or weeks, A second bite of the entry looks good with the stop the recent low around R1328. MInimum target for now remains R2048 using the height of the round bottom.
Read week 2 game plan villagetrader.co.za/2021/01/11/week-2-game-plan/
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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.