Technical Perspective: JSE Banks
This past week, buying in the sector has been aggressive and I'm not recommending a short here, but it's important to note the current technical level as a potential 'short term pause' before a next leg higher. From a technical perspective, my preference (for ultra short term traders) is to look for re-entries on a retracement, potentially back to or near the most recent breakout level. For medium term traders, I've expanded the chart going back to 2017 in order to note the price approaching the prior support and breakdown level. The group is now +85% off it's March 2020 lows.
Last Friday on this platform (and this past Monday in my research report) I flagged
ABG which has had a massive week. For short term traders, time to take SOME profit and redeploy (or enjoy :))
This past week, buying in the sector has been aggressive and I'm not recommending a short here, but it's important to note the current technical level as a potential 'short term pause' before a next leg higher. From a technical perspective, my preference (for ultra short term traders) is to look for re-entries on a retracement, potentially back to or near the most recent breakout level. For medium term traders, I've expanded the chart going back to 2017 in order to note the price approaching the prior support and breakdown level. The group is now +85% off it's March 2020 lows.
Last Friday on this platform (and this past Monday in my research report) I flagged
ABG which has had a massive week. For short term traders, time to take SOME profit and redeploy (or enjoy :)) 
Publications connexes
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Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.