We had a nice bullish divergence on the stock between August 2019 and March 2020. The stock since made higher lows and higher highs. We now have a nice cup and handle pattern. To add to the wind at the back the company’s acquisition of power fashion adding to their cash generative Mr price shops. Targeting most the Mid-lower LSMs. Looking for a break above the 17790c resistance level. My trend indicators are also looking close to changing to the up-side, as the 30w EMA is quite close to crossing the 60w EMA. My minimum target on this trade is 25000c
checkout the weekly game plan here: villagetrader.co.za/2021/01/17/weekly-game-plan-18-22-january-2021/
checkout the weekly game plan here: villagetrader.co.za/2021/01/17/weekly-game-plan-18-22-january-2021/
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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.