$JSEAFT - Afrimat Ltd: Bulls Taking Control
Afrimat has traded as previously forecasted, link below.
4366 has been well defended and price also held above 4650.
Looking at recent price action, the stock looks to be impulsing and unfolding in five waves.
From 4840, I am counting the advance as an impulse with price in the early stages of wave (iii) of ((iii)) which can be a very powerful move.
Buy the dips is the strategy above 4840 and this level should be used as a stop-loss.
4366 has been well defended and price also held above 4650.
Looking at recent price action, the stock looks to be impulsing and unfolding in five waves.
From 4840, I am counting the advance as an impulse with price in the early stages of wave (iii) of ((iii)) which can be a very powerful move.
Buy the dips is the strategy above 4840 and this level should be used as a stop-loss.
