LD_Perspectives

CLS - Persistence Breaks Resistance

Long
JSE:CLS   CLICKS GROUP LTD
Clicks Group (CLS, 26241c) Persistence Breaks Resistance: CLS has always 'expensive' however, technically, the share has been pushing up against the 265 to 270 range over a 14-month period. I'm monitoring for now, but I think if the resistance range is cleared, it may mean that overhead supply has been absorbed which paves the way for a break of the range. For now, we're holding above the pivot (P) and breaking to the upside of a pennant technical formation, although there may be a few more weeks of consolidation. In addition, the weekly and monthly RSI's are slowly turning up. Temporary failure below R246. #TechnicalView
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