top of page
  • Writer's picturePeet Serfontein

Analyst Thoughts - Top 40 Medium-Term

THE OUTLOOK IS HELD FOR PRICE PROBABILITIES WITH A MINOR RETRACEMENT, AFTER WHICH THE BULLISH TREND MAY PERSIST.

  • Completion of both the expected LM wedge pattern and W,X,Y bullish correction has materialised.

  • R1 is where W = X as a common extension for a three-phased correction.

  • A break of S0 will activate the A,B,C downside potential to S1 and towards S2*.

  • This would likely be followed by upside to R1 and further R1/S2* ranging.

  • The PQ formation remains a correction in a larger bull trend with the eventual gain potential to T1.

Target and Re-assessment Levels:

Important Levels: S2*

Primary Trend: ABC downside towards S2*, followed by gains to P

Monthly Range: R1/S1

Current Trend and Target Levels: Gains to R1, then downside to S0

Technical Rating: Medium



16 views0 comments
bottom of page