See link below for previous analysis.
Capitec continued to trend as previously forecasted but now there are two major signs of concern.
I count five waves up from the May 2023 low and there is strong price/MACD divergence.
Wave 5 can continue further up from here but a break below 196116 cps will confirm that the the five wave advance is complete; a new should see wave 5 extend into new all-time highs.
I am neutral at this juncture.
Capitec continued to trend as previously forecasted but now there are two major signs of concern.
I count five waves up from the May 2023 low and there is strong price/MACD divergence.
Wave 5 can continue further up from here but a break below 196116 cps will confirm that the the five wave advance is complete; a new should see wave 5 extend into new all-time highs.
I am neutral at this juncture.
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Related publications
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.