Merafe seems at will still continue to move a bit more higher
Possible retest of the 100c level before the next move higher?
Price is moving higher after bouncing off WEMA200. It would be very bullish for MRF if price closes the month above the MEMA200. Looking to initiate a buy with a close above 110level. Volumes traded are significant at this time. As always manage your risk.
JSE:MRF is currently at an area of value; 200EMA level and a support level. The 200EMA is pointing up; it's reasonable to anticipate a support here. At current price, this is a potential 1:4 risk to reward swing trade.
Briefly, signal received on daily chart however zooming out, the weekly appears promising with the price looking to emerge from a 12-month base. Also noting the weekly RSI at the highest level in 2 1/2 years (60, bullish) while the monthly RSI is starting to rise and trades at 44, suggesting room to advance over the long term.
Like a lot of the market, MRF took some hits but lately it has been inching up. Is the market looking to help it back to its former glory around 95? We'll be watching this one if not for anything other than learning about this "new market normal".
a break out on the triangle pattern will trigger a bullish move
JSE:MRF Looking for a second long entry, first was at R0.33 We could see a retracement back down to about R0.36 level and then hoping for a move to the upside Always remember to scale out your positions and move stop loss to break-even after reaching initial targets