Nice break on BLU on the back of a good trading update. HEPS for the 6 months to 30 November 2021 expected to be up by more than 20%.
BLU has broken out above the blue and green lines and could potentially be heading towards the orange line at 610c The Orange line could also potentially be the neckline of an INVERSE HEAD AND SHOULDERS Formation that extends back to Sept 2018. BLU is also staying above the 200EMA which is positive. BLU could still backtest to the blue line . Beware of false...
Double bottom playing out? both MACD and slow stochastic have given bullish signals.
Uptrend still intact as price bounces off it's 200 day moving average!
Pennant technical structure whose break could be an entry trigger to join and ride the uptrend.
we looked at other financial and economic indicators and we were impressed with the performance of the company looking at the pice that give us an opportunity to join the trend that started in the year 2020, on the 23 march since April why not join the digital company and f forget about it
BLU is another example of a how trader, or even a medium to long term investor is able to use the monthly chart to pick up long term equity portfolio winners and also gaining a perspective to be able to sell/cut at an appropriate level. I originally published BLU with the following short comment at 200c 18 April 2020: "Blue Label Telecoms: During 2017 the...
JSE:BLU is showing signs of upward momentum with the recent bounce off of the support level at around 460 as well as two of our three momentum indicators having crossed upwards. If confirmed, I think we can see a move to at least the previous highs of around the 530 level.
JSE-BLU: BLU has broken the rising channel, albeit on intraday basis Close below 505 exposes 487
From fake move comes fast moves A fake flag break could see this one going to test 500c levels again In order for this to happen volume needs support the share price at these levels Stick to stop losses
Possible bear flag developing here. Still early days, but I would keep an eye on this pattern. If the flag breaks to the downside, 350 would be possible once again. I you are a current shareholder I would wait and just watch this pattern rather than pre-empt and sell.
It has taken some patience but Blue Label seems to be ready for the next push higher. Seeing the buying in November 2020 - see posts showing progression below - we expected a substantial increase. After reaching an area of historic resistance and pullback to R4 we are now again ready to push higher.
Pennant like technical structure on the daily chart; could break either way; with a potential 1.20 move, either way it breaks!
JSE-BLU: Having successfully bounced off 462 (rising blue trendline), BLU has broken above 482 on intraday basis A close above the 482 validates the trade and I am looking at 523 then 543
I see a strong buy when it breaks out the trendline. That's the target I believe it could reach in the long run
The RR isn't great here but money is money. Triangle breakout with a target overhead of 543. Primary trend is down, be cautious when trading against the trend. Measure your risk accordingly