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NPN

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Super Contributor

Taking a bit of strain, but I still like it. Big buy divergence on the sto (weekly chart) which suggests some upside over the next few weeks.

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Super Contributor

Like other rand hedges it is just waiting for the rand to weaken, which I also think is coming soon.

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Occasional Contributor

Carefull, it just validated a dubble top at R2113. Could be forming a right shoulder looking at weekly chart.

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Super Contributor
Are you talking about the H and S that started in March 2016? I see that but it will have to break through the long term support line which goes back to April 2013 to complete the right shoulder. Possible, but I will wait and see.
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Occasional Contributor

Yes, know it's long term but some times it play out. USD/ZAR moved below long term support, would be interesting to see if it's a break.

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Super Contributor
Lately I've been more interested in the NPN reverse H and S which formed from 2 Nov 2016, but this is becoming quite an extended right shoulder now!
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Occasional Contributor

That's the thing with right shoulders, they often gebreklik "deformed". As I see the inverse right shoulder would only be invalidated below R2032, if the d/top play out it could happen.

 

 

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