Trading Nedbank Group
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NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes
Analysis as of: End of Day, Friday 04 September.
Published on: Sunday 06 September.
Nedbank Group traded up to ~R308 from our double bottom trigger at ~R262. The share gapped higher while traders has the opportunity to buy at R264 to R265. The upside target was reached however, the share advanced well beyond the exit level. For now, share continues to act well with the potential to trade into the previous swing highs - a range at which traders can consider a sell/short, should the overbought or excessive conditions be present at the time. Bottom Line: get ready to sell excessive/overbought conditions.
*Ratings and Key Levels Are Subject To Change Based On Subsequent News Flow and Price Action.
Lester Davids
Senior Investment Analyst: Unum Capital
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