$JSEQLT - Quilter PLC: Going Nowhere Slowly
The last update on Quilter was on 09.01.2023, link below.
I was upbeat on the stock as the price pattern suggested a bottom is in at 1661.
I was further bullish as the bear terminated in an ending diagonal (falling wedge).
Price action after an ending diagonal tends to be swift and strong in the opposite direction.
The stock price of Quilter has been anything but swift.
While 1661 has not yet been violated, price has traded sideways in a range 1780 - 2217 with a false breakout in-between.
One needs to take a deeper look at fundamentals before committing capital on this one as that could be a significant reason why this stock is trading the way it is.
I am neutral to bullish as long as 1661 but this is for investing and not trading.
I was upbeat on the stock as the price pattern suggested a bottom is in at 1661.
I was further bullish as the bear terminated in an ending diagonal (falling wedge).
Price action after an ending diagonal tends to be swift and strong in the opposite direction.
The stock price of Quilter has been anything but swift.
While 1661 has not yet been violated, price has traded sideways in a range 1780 - 2217 with a false breakout in-between.
One needs to take a deeper look at fundamentals before committing capital on this one as that could be a significant reason why this stock is trading the way it is.
I am neutral to bullish as long as 1661 but this is for investing and not trading.
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