NORTHAM - Lower low?
The plat stocks had a good rally yesterday on the back of current global events.
Price tested the down trending 20ema which is the first hurdle to break the short-term trend.
If the stock continues to rally and closes above R117 in the coming days, a double bottom pattern could come into effect with a decent measured move up to target the top of the descending wedge.
Below the swing lows will negate the view.
NB: counter trend / reversion to the mean
Price tested the down trending 20ema which is the first hurdle to break the short-term trend.
If the stock continues to rally and closes above R117 in the coming days, a double bottom pattern could come into effect with a decent measured move up to target the top of the descending wedge.
Below the swing lows will negate the view.
NB: counter trend / reversion to the mean
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