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This post was first published on my website, earlier this evening:
The weekly and monthly charts have played a pivotal role in helping me assess the bigger picture and find long term trading/investment opportunities.
Two years ago, during February 2021, my analysis of Investec's weekly price chart suggested potential for upside over the medium term. My target price was conservative, taking the position of 'under-promise and over-deliver'.
From a price of 4109c at the time, we have since seen the share appreciate by 182% over the 24 months.
The original slide (timestamped) from my report has been added below:
Reviewing the chart this past weekend, I have noticed the following:
The share continues to trend higher, having emerged from it's multi-year base, while the upward momentum has been very strong.
What I have also noticed is the share price distance from it's 200-week moving average. At current levels, the share trades 83% above the 200w SMA, while is the most extended level since 2007. Also note the minor bearish distance divergence i.e. a higher high on the price vs a lower high on the MA.
This post was first published on my website, earlier this evening:
The weekly and monthly charts have played a pivotal role in helping me assess the bigger picture and find long term trading/investment opportunities.
Two years ago, during February 2021, my analysis of Investec's weekly price chart suggested potential for upside over the medium term. My target price was conservative, taking the position of 'under-promise and over-deliver'.
From a price of 4109c at the time, we have since seen the share appreciate by 182% over the 24 months.
The original slide (timestamped) from my report has been added below:
Reviewing the chart this past weekend, I have noticed the following:
The share continues to trend higher, having emerged from it's multi-year base, while the upward momentum has been very strong.
What I have also noticed is the share price distance from it's 200-week moving average. At current levels, the share trades 83% above the 200w SMA, while is the most extended level since 2007. Also note the minor bearish distance divergence i.e. a higher high on the price vs a lower high on the MA.