Break-out and retest (BAT & LHC)
A short technical note from our Unum Trading Desk analyst, Lester Davids.
"On the Brait (BAT) chart, following the test and breakout of the downward trend line, the price has given us a small 3-day pullback, with a positive close yesterday. The RSI is starting to move out of oversold territory so there could be a potential buy/long opportunity on the share.
A great recent example of a breakout and re-test was Life Healthcare (LHC) on the right hand chart."
If you want to chat about these charts, or any local South Africa stocks, contact our Unum Trading Desk on tradingdeskunum , call +27 (0)11 384 2920 or live chat with us on t.me/joinchat/EF0s1hGYwYDo93elCLfGNw
"On the Brait (BAT) chart, following the test and breakout of the downward trend line, the price has given us a small 3-day pullback, with a positive close yesterday. The RSI is starting to move out of oversold territory so there could be a potential buy/long opportunity on the share.
A great recent example of a breakout and re-test was Life Healthcare (LHC) on the right hand chart."
If you want to chat about these charts, or any local South Africa stocks, contact our Unum Trading Desk on tradingdeskunum , call +27 (0)11 384 2920 or live chat with us on t.me/joinchat/EF0s1hGYwYDo93elCLfGNw
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