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  • Writer's picturePeet Serfontein

Analyst Thoughts - Top 40 Medium-Term

THE BULLISH TREND ACTIVATED


  • Medium-term: The long-held view of a maturing PK correction, followed by a major bull trend to T2, is materialising.

  • Recent bullish price action through P has negated any further consolidation in the PK phase and activated the bull trend to T1 and T2.

  • The testing of the phase 3 target area at RA1*, coupled with extreme overbought RSI conditions, could result in a RA1*/S0* consolidation/correction.

  • This will be part of the larger bull trend.

  • The pivot level for the bullish outlook is at S0*



Target and Re-assessment levels:

Important Level/s: RA1* and S0*

Primary Trend: Bull trend to T1 and T2 over time.

Prevailing Trend: RA1*/S0* consolidation.

Monthly Range: RA1*/S0*

Technical Rating: Medium



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