Watch the QuanTechMental analysis using this link youtu.be/bosgTyTSjtg
Brait has undergone some restructuring of its business over the past three years and has seen the share price drop from lofty heights to hitting a bottom in March 2021 at R2,30.
The rally to R5,10 unfolded in a clear impulsive manner which i have labelled wave 1 to 3.
Since hitting the R5,10 the share has traded sideways. Consistent with the wave principle, sideways consolidation tends to be a triangle or a combination pattern with a triangle.
As long as price holds above R3,49 this outlook remains valid and a break below R3,49 will prompt a re-assessment of the pattern unfolding.
Trade recommendation
buy @ 420 zac
stop-loss @ 348 zac
Brait has undergone some restructuring of its business over the past three years and has seen the share price drop from lofty heights to hitting a bottom in March 2021 at R2,30.
The rally to R5,10 unfolded in a clear impulsive manner which i have labelled wave 1 to 3.
Since hitting the R5,10 the share has traded sideways. Consistent with the wave principle, sideways consolidation tends to be a triangle or a combination pattern with a triangle.
As long as price holds above R3,49 this outlook remains valid and a break below R3,49 will prompt a re-assessment of the pattern unfolding.
Trade recommendation
buy @ 420 zac
stop-loss @ 348 zac
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.