Rectangle formation is forming on Argent, 7>21 and Price>200 RSI<50 - Mixed Target R17.83
CONCERNS: High volatility and low liquidity signals show an unhealthy chart, which is not great for breakout trading. For investment purposes it looks like Argent wants to break above the Rectangle and head to R17.83. But with the mixed signals and erratic price action, this is anyone's guess.
ABOUT: Argent is largely a steel-based beneficiation group with a very diverse portfolio of businesses that include international brands. The group’s activities are based in Gauteng, the Western Cape, Eastern Cape, Kwazulu-Natal and Mpumalanga, with one subsidiary (Cannock Gates) in the United Kingdom and one (New Joules Engineering) based in North America.
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.