Metair skyrocketing to R30.00 with a warning
Falling Wedge which looks more like a rectangle flag formed on Metair.
We then saw a Major breakout today.
The next target is generally to the top of the formation.
However, we have mixed signals and a warning.
200>21>7 - Bearish
RSI>50 - Bullish
Target R30.00
WARNING
We need the price to break above the 200MA to indicate it's in a confirmed uptrend. We need to wait for this to happen before the bullishness shows more on the charts.
ABOUT
the group manages an international portfolio of companies that manufacture, distribute and retail products for energy storage and automotive components. Metair was formed in 1948, becoming a supplier of automotive components to a single OEM in South Africa in 1964.
We then saw a Major breakout today.
The next target is generally to the top of the formation.
However, we have mixed signals and a warning.
200>21>7 - Bearish
RSI>50 - Bullish
Target R30.00
WARNING
We need the price to break above the 200MA to indicate it's in a confirmed uptrend. We need to wait for this to happen before the bullishness shows more on the charts.
ABOUT
the group manages an international portfolio of companies that manufacture, distribute and retail products for energy storage and automotive components. Metair was formed in 1948, becoming a supplier of automotive components to a single OEM in South Africa in 1964.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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