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  • Writer's picturePeet Serfontein

Analyst Thoughts: Top 40 Medium-term

THE VIEW IS RETAINED FOR A PROTRACTED CONSOLIDATION BETWEEN 72 800 AND 65 100.

  • The expected upside off Q*/S1 and into the previous bottoms at R0 confirms the medium-term view and ongoing P*Q* defined consolidation.

  • A number of alternative corrective outcomes are possible within the bolt red arrow R1/S1 area.

  • An eventual impulsive bull trend should target R1 and higher. This will only occur on completion of the current range.

  • R1 and S1 are interim important levels.

  • Q* remains the negation level for the medium-term consolidation and bull trend outlook.

Target and Re-assessment Levels:

Important Levels: Q* and P*

Primary Trend and Target Levels: Gains off Q* to P, as part of PQ ranging

Monthly Range: R1/S1

Prevailing Trend and Target Levels: Gains towards R1

Technical Rating: Medium



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