runyamhere

Sanlam: The Bear Case

Singkat
runyamhere Telah dikemas kini   
JSE:SLM   SANLAM LIMITED
Sanlam daily cycle is seeking a half cycle high on day 17, however we note the following:

1. TSI & RSI are putting negative divergence.
2. The RSI is showing overbought and beginning to turn.
3. Switching to the weekly chart we see overbought conditions as well.

Given the above, the earnings report presents a risk to the downside, the cycle would be confirmed to have turned bearish if price goes below the price of R62.08 or the 18 August low, this is a good entry confirmation.
Komen:
Despite a brief pullback at earnings, Sanlam seems to want to move higher, however the indicators are overbought up to the weekly chart. The monthly still has some wiggle room.

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.