Equity Portfolio Technical View
The share is setting up a potential long term bullish reversal, with it’s 16-month downward trend line breached as per the weekly chart.
New 3 1/2 month high.
Weekly RSI emerging from a neutral regime, shifting to a bullish regime, with a reading of 56.
Weekly RSI also at highest level since July 2019.
Pending MACD bull cross (above zero bound).
Add on a close above A$5.39.
Stop-loss: A$4.90
Could play catch-up QBE, which I flagged recently (04-May) at A$9.99. Tested a high of $11.37 on Friday - see related idea.
The share is setting up a potential long term bullish reversal, with it’s 16-month downward trend line breached as per the weekly chart.
New 3 1/2 month high.
Weekly RSI emerging from a neutral regime, shifting to a bullish regime, with a reading of 56.
Weekly RSI also at highest level since July 2019.
Pending MACD bull cross (above zero bound).
Add on a close above A$5.39.
Stop-loss: A$4.90
Could play catch-up QBE, which I flagged recently (04-May) at A$9.99. Tested a high of $11.37 on Friday - see related idea.
