CPI seems to have topped in April 2022 and has been moving downwards since then. The stock enjoyed support near R1600 twice, the recent rally came to a halt as the price reached the trend line. Also, CPI is trading below declining moving averages; waiting to see how long the R1600 - R1500 level is going to hold.Other banks are either declining or moving sideways, it's possible that the banking sector is weak.
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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.