';
Views Article – Sharenet Wealth

Share Picks

Aspen Pharmacare Holdings Ltd: Recovery pending

BOTTOM LINE: APN is consolidating within its major bear trend

(Click image to enlarge)image1

Possible scenario:

APN is currently testing the lower slope of its symmetrical triangle. Its trading range may narrow as it trades towards the apex. The 3-week RSI is also oscillating within a triangle, and has bounced on the lower slope.

A positive breakout of the pattern would be confirmed above 30,225cps, and should trigger gains to either the resistance trendline of APNs bear trend, or the 34,700cps level – so go long above 30,225cps.

Alternative scenario:

A negative breakout of the symmetrical triangle would be confirmed below 26,265cps – in that case, go short. Downsides towards 21,230cps could then ensue.

banner


Moxima

Moxima Gama
Technical Analyst, Sharenet

Moxima has a B.Comm Finance from the University of South Africa and is a certified Chartered Market Technician Level 2, currently completing Level 3. She has been a technical analyst for 10 years, working for BJM, Noah Financial Innovation and for Standard Bank as part of the Research Team in the Treasury Division of CIB. She now runs her own business, The Money Hub, and consults for Sharenet. Moxima has been rated as one of the top 5 technical analysts in South Africa and outperformed the market during the recent recession. She regularly makes an appearance as a guest on CNBC Africa and writes often for Finweek and Sharenet’s Views.

Read an interview with Moxima, or discover Moxima’s trading insights via Sharenet’s Technical Analysis Newsletter.


Like this article? Get more like it and exclusive market alerts before the general public by subscribing to free Sharenet newsletters using the form below.

Register

We want to get to know you

* Required Fields