Equities | ARL Astral Foods
Medium term trade idea with the following technical drivers:
- Price is above 8/21/50 exponential moving averages which are also starting to turn higher.
- The RSI has breached it's overhead resistance, while having retested the breakout level. At present, the indicator remains in the bull zone with a 64 print.
- The downward trend line going back to the July 2018 peak of R324 has been breached while the short term overhead resistance of R170 is being tested for a potential break up.
Trading Levels:
Look to buy on a close above 17050c
Use a stop-loss of 16320 to protect capital
Take profit at or near 18600c
Time Frame: Medium Term
Medium term trade idea with the following technical drivers:
- Price is above 8/21/50 exponential moving averages which are also starting to turn higher.
- The RSI has breached it's overhead resistance, while having retested the breakout level. At present, the indicator remains in the bull zone with a 64 print.
- The downward trend line going back to the July 2018 peak of R324 has been breached while the short term overhead resistance of R170 is being tested for a potential break up.
Trading Levels:
Look to buy on a close above 17050c
Use a stop-loss of 16320 to protect capital
Take profit at or near 18600c
Time Frame: Medium Term