Suffering South African consumers
PRICE ACTION
Weekly chart CLOSE 13.45 (13.72) LOWER close
Support: Horizontal at 13.40, this support
getting tested right now lower wick weekly
candle wick resting on this support
The 1st MA in support, the 200 at 13.23
Resistance: a trendline linking upper
wicks of 18.1.2016 & 13.11.2017 with
each other, very weak because of the open
spaces between contact points.
The upper Bollinger Band at 13.83 and a horizontal
resistance at 14.00 and being a round number too
TREND FOLLOWING
The day and weekly chart is showing a high probability
that this is a continuous pattern: Cup and Handle with a
neckline at 14.57
Heikin Ashi candles & Bollinger Bands indicate
momentum of uptrend, slowed down considerably
Weekly chart CLOSE 13.45 (13.72) LOWER close
Support: Horizontal at 13.40, this support
getting tested right now lower wick weekly
candle wick resting on this support
The 1st MA in support, the 200 at 13.23
Resistance: a trendline linking upper
wicks of 18.1.2016 & 13.11.2017 with
each other, very weak because of the open
spaces between contact points.
The upper Bollinger Band at 13.83 and a horizontal
resistance at 14.00 and being a round number too
TREND FOLLOWING
The day and weekly chart is showing a high probability
that this is a continuous pattern: Cup and Handle with a
neckline at 14.57
Heikin Ashi candles & Bollinger Bands indicate
momentum of uptrend, slowed down considerably
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