TKG - next stop either R38 or R50

15 Jul 2021

TKG Don't you love the tension when a symbol gets to this point:
- MACD is at the signal line,
- RSI is at call it 50,
- The price is on the 5EMA which is on the 15EMA which is more or less on the 200DMA, and
- It's all at the tippety point of a symmetrical triangle

In its longer term trend I would've leant toward the triangle resolving upward to R50, but in the current negative SA news cycle (civil unrest, looting etc) perhaps it resolves down to R38 instead? Seems 50/50 from here

For what it's worth I'm long from R44.80 with extremely tight stops.

Happy trading
UC