JSE:NPK Nampak Markup

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Nampak has formed a long term (on the weekly timeframe) declining wedge that has been broken and the mark up has been started. We have seen above-normal volume on the stock, a break of the base that was formed since early 2020, signs of strength (SoS), backup (BU) to the trading range, markup and now a reaccumulation at the yearly pivot point. The volume indicates that we can expect a next step higher in the markup.

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