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  • Writer's picturePeet Serfontein

Analyst Thoughts - Top 40 Medium-Term


  • General overview:

    • The RS flag correction is approaching its advanced development stages.

    • Expectation of a long-term bullish trend resuming towards Target 1 (T1) and possibly further after the RS phase concludes.

  • Short-term analysis:

  • The KM* price acton predicts slight and incremental gains towards K, with a chance of reaching R1*, marking the end of this phase.

  • Key predictions:

    • Anticipate a medium-term peak near the K/R1* area, leading to a decisive bearish trend towards S3/Q, finalising the RS flag pattern.

  • Overall confidence:

    • The confidence in the general outlook is of a medium level, noting that short-term predictions are more prone to uncertainty.

Target and Re-assessment levels:

Important Level/s: 65 800 and 68 800.

Primary Trend: Bear phase off 68 800 to 63 700, which is then followed by a bull trend to 75 000.

Prevailing Trend: Gains to 68 800

Monthly Range: 65 800 to 68 800

Technical Rating: Medium

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