INL has retraced sharply from resistance level identified on 20 Sept, primarily on the back of the an update from the company indicating higher costs associated with:
- management actions taken to simplify the business (spinning out of IAM) - weaker investment banking performance in the UK
- uncertainties caused by Brexit,
- weaker corporate environment in South Africa
- A fall in HEPS
We currently trade at support, rebounding with a reversal candle today. Should we see a new print below 7620, it may be an opportunity to trade up to 7980c.
- management actions taken to simplify the business (spinning out of IAM) - weaker investment banking performance in the UK
- uncertainties caused by Brexit,
- weaker corporate environment in South Africa
- A fall in HEPS
We currently trade at support, rebounding with a reversal candle today. Should we see a new print below 7620, it may be an opportunity to trade up to 7980c.
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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.
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.