runyamhere

Investec: One to Watch

runyamhere Updated   
JSE:INP   INVESTEC PLC
Though price made a low on 29 September 2022, the volume on the advance is not convincing of sufficient buyers, for comparison look at move out of 7 March 2022. In the short-term price might move to the upper trendline. If price reverse quickly and go lower than 29 September then it will be a good short entry. One could attempt a long position to the trendline for a 10% gain but there are better prospects elsewhere.
Comment:
INP has proven resilient confirming it is in a new weekly cycle by closing the week above the resistance. Now reaching a point of price retracement before attempting higher.
Trade closed manually

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