SAPPI - Broken its downtrend
Sappi has traded strongly recently and has now managed to break the yellow downward trend line. . As such, we could possibly see a retest of the yellow band before moving higher or, price could continue moving upwards in this relatively strong move. Initial target on this move would be around 58.18 and stop loss would be placed on a close below 40.80 or, on a close below the blue upward TL.
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.