JSE:S32 South32 Retest of Breakout
Updated
After the breakout in September South32 had pulled back to the breakout level (see previous post in the link below). This retest can be used to provide a tight stop and a good RR ratio as the stock continues to the overbought trend line.
Note
After a strong pullback to the trading range. S32 has found support at a volume cluster and is responding positively.Note
S32 is showing weakness. Price has broken back in to the TR and broken the upward stride. Will have to see if the 3000 level will hold.
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