top of page

Analyst Thoughts - Top 40 Medium-Term

  • Writer: Peet Serfontein
    Peet Serfontein
  • Feb 27, 2024
  • 1 min read

CURRENTLY, THE PRICE ACTION APPEARS TO BE MAINTAINING A NEUTRAL STANCE.


  • The PM flag continuation pattern should eventually result in a bull trend to T2. Current mid-range consolidation points to neutral market conditions.

  • Preferred Interim is for a potential medium-term defined triangle pattern that could be developing.

  • Further sideways KM price action should then be followed by a Y bear phase to S2 and Q, to complete the larger W,X,Y correction.

  • R1* and S1* are the current important levels.

  • Many feasible alternatives make the illustrated outcome of medium to low conviction.


Target and Re-assessment levels:

Important Levels: R1* and S1*

Primary Trend: Downside to S2, followed by a bull trend to T1

Prevailing Trend: KM ranging

Monthly Range: R1*/S1*

Technical Rating: Medium to low



Comments

bottom of page