Flash note on PSG from our Unum Trading Desk analyst, Lester Davids.
"Around current levels, PSG is showing a technical willingness to break above the resistance level of R235, which is just below the 200-day moving average. The price has started to make higher lows and is trading above the 21 and 50-day moving average, both of which are pointing higher. With the 200dma at resistance, it is possible for the price to re-test the upward trend line before regaining the 200dma."
For more information contact the Unum Trading Desk on +27 (0)11 384 292, tradingdesk@unum.co.za or our real-time chat t.me/joinchat/EF0s1hGYwYDo93elCLfGNw
"Around current levels, PSG is showing a technical willingness to break above the resistance level of R235, which is just below the 200-day moving average. The price has started to make higher lows and is trading above the 21 and 50-day moving average, both of which are pointing higher. With the 200dma at resistance, it is possible for the price to re-test the upward trend line before regaining the 200dma."
For more information contact the Unum Trading Desk on +27 (0)11 384 292, tradingdesk@unum.co.za or our real-time chat t.me/joinchat/EF0s1hGYwYDo93elCLfGNw