top of page

Analyst Thoughts - Top 40 Medium-term

  • Writer: Peet Serfontein
    Peet Serfontein
  • Nov 14, 2023
  • 1 min read

THE VIEW IS RETAINED FOR GAINS OFF 63 700 AS PART OF A BASE BUILDING BETWEEN 63 800 AND 72 000.

  • Completion of the A,B,C,D,E bear phase at Q*, followed by gains to R1, seems to be materialising.

  • The current phase X downside is overlapping and corrective, suggesting an interim bottom around S2. Phase Y gains to R1/R2* could complete the W,X,Y pattern.

  • W, X, and Y gains are likely part of the highlighted medium-term R2*/S2* complex consolidation.

  • An eventual bull trend to T1 and beyond on completion of the consolidation remains valid.

  • A breach of R2* will extend the upside to P. A break of S2* will negate the illustrated view.

Target and Re-assessment Levels:

Important Levels: R2* and S2*

Primary Trend: WXY gains to R1, as part of R2*/S2* consolidation

Monthly Range: R0/S1

Current Trend and Target Levels: Gains off S1 to R0

Technical Rating: Medium



Comments

bottom of page