Tuesday, 09 April 2024 | 11h46
Reading Time: 2 Minutes
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Key Points
Significant price advance (+37%) from 07 March note highlighting technical view and readings from Tactical Trading Guide.
Applying a short term technical rating, at current levels, the share is overbought.
The unfilled gap from 19 October has now been filled.
The share is trading at more than 2x it's standard deviation over 200 days. This is also considered overbought.
The share is trading 21% above it's 21-day exponential moving average. This is the most extended since July 2020.
If you are holding from much lower levels, it may be prudent to consider reducing some of the position.
Updated Chart
Price applied with 200-day linear regression channel.
Price vs 21-EMA
The original comment, as published on Thursday 07 March, is shown below (Was 1954c, now nearing 2700c).
Lester Davids
Analyst: Unum Capital
Comments