Clicks
CLS
seems to be bouncing off the bottom of a 100-day regression channel, supported by the 200 EMA line and a decent double bottom pattern.
The leading RSI and Stochastic indicators signalled a trend reversal on 26 February 2021 by turning up through 50 and crossing up through the slow line from a low base, respectively.
The MACD (lagging) confirmed this trend today, 2 March 2021 by crossing above the signal line.
Entry for me would be a confirmed close above R250, with a price target of R264 and R279 based on resistance levels, and if it fell out the bottom I would exit at R239.
Reward: 11.73%
Risk: 4.37%
Ratio: 2.68
CLS
seems to be bouncing off the bottom of a 100-day regression channel, supported by the 200 EMA line and a decent double bottom pattern. The leading RSI and Stochastic indicators signalled a trend reversal on 26 February 2021 by turning up through 50 and crossing up through the slow line from a low base, respectively.
The MACD (lagging) confirmed this trend today, 2 March 2021 by crossing above the signal line.
Entry for me would be a confirmed close above R250, with a price target of R264 and R279 based on resistance levels, and if it fell out the bottom I would exit at R239.
Reward: 11.73%
Risk: 4.37%
Ratio: 2.68