Wednesday, 13 September 2024. 11h55
The share has now rallied by R37, with a high of R192.64 today.
Short term/active traders will use these advances to reduce exposure and potentially re-enter at lower levels.
The high was also into my actionable trading zone (sell/reduce), pulling back to R187 on an intraday basis.
Scroll down to see the previous (+original) posts which were communicated to clients of Unum Capital.
The chart is 'current'
Previous Post: 13 September 2024
Update / Pre-Market
Ticker: ARI
Previous Post: 12 September
Real-Time: 10h21
Ticker: ARI
The share has found support at the previous swing low and is rebounding from deeply oversold conditions.
This setup was discussed on Monday, 02 September.
The chart is 'current'
Pre-Market
Ticker: ARI
As per my report on Monday, 02 September (Active Trading Plan), the share is approaching key levels i.e. the previous breakout range and the previous swing lows.
Also note the following, yesterday we saw a 'doji' candle being printed, which may be early clues of a slowdown in downward momentum.
Note: Event risk in the form of earnings at present (Friday, 06 September).
The slide from my report is shown below.
Lester Davids
Analyst: Unum Capital
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