Jseinp
$JSE-INPJSE:INP
Making inverted head and shoulders with neck line around 9500.
Break above 9500 will target high around 10500.
JSE:INP JSE:INL Investec Waiting for MarkupInvestec has formed a Trading Range (TR) after Preliminary Support (PS), Selling Climax (SC), Automatic Rally (AR) and Secondary Test (ST). There has been low absorption volume in Phase B and we have now seen a spring and test in Phase C. After the test is done we can expect a markup in the TR in Phase D to the top of the TR.
A Look At The Bigger Picture For InvestecInvestec plc is an international, specialist bank and asset manager that provides a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa, and Australia as well as certain other countries. Investec plc is the controlling company of the majority of the group's non-Southern African operations.
Technicals
I have indicated the monthly structure in black and the weekly structure in pink. I expect the weekly structure to complete after either 3 or 5 waves to the downside and will be looking to trade the long from the end of both waves. Wave 5 of the weekly structure has a really good target and I will not miss the entry after a reversal confirmation.
