Sanlam

This morning, our tactical model for SLM suggests the following: "Aggressive Buying But Do Not Chase-Look For Overshoot and Failure To Hold Highs To Short-Sell Back To The 8-EMA".

A manual review of the chart notes the price at a clear supply zone however we know it has the ability to overshoot.

If it trades above resistance and fails to hold, does that set up a short term short/sell? I'm monitoring for entry.

Note: the 7 and 14-day RSI's trade at 80 and 74 respectively - strong but nearing 'short term overbought'.