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Online Share Trading

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FINBOND

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Prestonmyhusban
Regular Contributor
Russ /Sponono, have a look at this share. It is building up some nice energy for an upward move (omo).
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9 REPLIES 9
Preston
Super Contributor
comment above from Preston
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Russ
Super Contributor
Preston,on the positive side it is oversold on daily and weekly charts. It is also on good support which has been tested many times. On negative side I see a large descending triangle with a smaller one inside it.Descending triangles usually break to the downside.If it happens to break up out of the smaller triangle (resistance today at about 279)it could have a nice rally up to about R300. I think it's risky to go in now. I gave a more detailed opinion earlier but lost it when I lost internet connection! If you want me to clarify let me know.Only my humble opinion as always!
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Preston
Super Contributor
Russ, thanks for the feedback, Really appreciate your input.
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Russ
Super Contributor
No problem.It is still bouncing between support and resistance of that smaller triangle.It closed at resistance today. It's really getting squeezed now so it will surely break up or down in the next day or two.
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Preston
Super Contributor
Russ, there she blows....
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MehmoodHaffejee
Frequent Contributor
Great call, by the way! What price do you think would be the target on this breakout?
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Preston
Super Contributor
For now, let keep it at R3.00 ,as per RUSS suggestion.
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Russ
Super Contributor
I saw that. Just blasted out of there.
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Bouwer
Super Contributor
Looks like it is still in the triangle range though. If it doesn't break resistance at around 300 may well pull back and test support again.
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