Timonrosso

TARGET REACHED: Outsurance to R39.10 - Watch out

Long
JSE:OUT   OUTSURANCE GROUP LIMITED
My first target reached at R39.10.

A Cup and Handle formation revealed and broke out on 10 July 2023. It's been a bit of a hold, but the price continued to make higher lows and higher highs.

This is the best case scenario for a long buying trade. The thing is, what's next?

We could get a bit of a retracement here in a consolidation manner. This is where retail traders sell off their profits and other traders start prepping for the next upside.

Once the pattern forms, breaks out - I'll let you know.

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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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