Short

Sanlam - Short-Term Bearish View

Updated

Looking at the daily chart, we can see Sanlam forming a descending triangle formation which we can expect to break down or put a break higher then make a round trip on the triangle (Around the Apex) move. The RSI is building negative divergence. As emphasized on the notes to the monthly view, one would have taken profit partially for later deployment on the lows.

Note

Sanlam has now presented a failed cycle meaning we will have lower highs and lower lows.

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Sanlam - (SLM) Near Long-term Support

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