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CAPITEC BANK HLDGS LTDCAPITEC BANK HLDGS LTDCAPITEC BANK HLDGS LTD

CAPITEC BANK HLDGS LTD

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CPI trade ideas

Capitec BankCurrent Price: R1499 I understand that you may 'hate' the share. I also understand that it's strength is perplexing amidst a potentially excessive fundamental valuation. I'm also NOT trying to be smarter than you as a fundamentalist who has a deeper understanding of the business but the chart structure suggests a consolidation base and the potential for a break to the upside. Note the price trading on it's Pivot (P), with a bull flag (some work to do) where prior resistance of R1450 has turned to support. A daily close above R1520 sets us up for the next level while a close below R1440 invalidates the idea. Both the RSI and MACD are in bullish regimes while the price has started to shift 'away' from it's near-term 50-day EMA. Traders can also go long on a break of the bull flag, with a target range of R1610 to R1640 and R1700 at an extension. Stop-loss: R1422
JSE:CPILong
by LD_Perspectives
My thinking is Capitec is getting ready to leave the station. Capitec has been sitting on the bench at the station for a long time in its bull flag formation. Parhaps a close above 140 would mean its ready to buy its tickets and leave on the long road? * Weekly - Stochastic has short period crossing, as well as MACD * Daily - Just Just touching the trend line - first real break attempt (Don't know if we need a little more oomph to pull it off)? - MACD Already crossed - yet in the negative half still - Stochastic is moving up. I would wait for a clear breakout. Please, guys - this is my very first idea, please comment and help with the analysis - as I'm still very new at this! Would love to hear your thoughts? B
JSE:CPILong
by BabyTrader36