Reversal Broad. Diamond on Coronation with target up to R38.28Broad. Diamond has appeared on the daily.
Either the price breaks down as a continuation from the prior trend.
Or the price breaks up.
My bet is on the price break up. Thats because the low of the Dimaond is showing a Sell Side Liquidity Order Block. (Explained lower)
Othe rindicators
7>21 Price>200
RSI>50
Target one is a short term T to R38.28. Break above this and we will have a larger W Formation that will send it to at least R47.00.
SMC: Sell Side LIquidity Order Block - Bullish
Smart Money buys into positions (and sweeps liquidity) from traders who are long (get stopped) and for short traders who enter into their trades.
ABOUT THE COMPANY
Coronation Fund Managers is a South Africa-based investment-led, owner-managed business.
It was founded in Cape Town in 1993.
Coronation provides both institutional and personal investment management services.
It is one of the largest and most successful asset management companies in South Africa.
The firm is known for a long-term, valuation-driven investment approach.
Coronation offers a range of products like unit trust funds, retirement products, and offshore investments.
HOW IT GOT ITS NAME
We're not sure, but we can speculate. The term "Coronation" generally refers to the process of placing a crown on a monarch's head, symbolizing their rise to power, authority, and responsibility, which could be a metaphor for the company's mission and goals in the financial sector.
