W Formation formed on Sanlam and the price has broken above the neckline. Nature: High Probability Price>20 and 200MA Downtrend broken which tells us the bulls are in charge (action line) Target R97.11
Falling Wedge formed since 1 Feb 2023. Only yesterday, we had the confirmed breakout showing strong buying and demand. Price>200 Bullish RSI >50 Target R63.69 SMC Below the Wedge we have Sell Side Liquidity Order block. Where Smart money is buying where retail were selling. This gives a strong signal that high buying volume was trumping selling. Very bullish...
Sanlam bounce of the lows a recovery is at play R61 rand is on the cards even a move higher to R72 is possible
SANLAM may rise and come back fro the lows in a steady upwards move
Sanlam we can see a buying opportunity on this on on the break of the trend lone
JSE:SLM Testing strong resistance at 80.00. Clear sideways consolidation. Break up will bring more upside.
JSE:SLM Tested support around 7100 once again. Break bellow will be quite bearish for the stock.
JSE:SLM Trading in 7500-8000 box over last two months, currently testing bottom of the box. Break bellow will open 7000 as target.
Sanlam has formed a trading range (TR) with a selling climax (SC), automatic rally (AR) and secondary test (ST) of the SC. After this, the stock has moved into Phase B and upthrust (UT) testing the top of the TR. With contracting volume, a drop to test the SC in phase B can be expected. This could see a decline to test R70 or R65 before continuing the TR.
The Sanlam Group is one of the largest established financial services groups in South Africa. Established in 1918, the group demutualised in 1998 and Sanlam Ltd then listed on the JSE Ltd. and the Namibian Stock Exchange. The group has business interests elsewhere in Africa, Europe, United Kingdom, India, the USA and Australia. Daily: We can see an impulse move...