Absa showing downside to come to R120 but I am not buying it LOL

8월 12일

Ok so I am taking this analysis with a pinch of salt.

The JSE Top 40 is showing major upside to come. And yet the Banking sector is showing conflicting signals.

I mean we have an Inv Cup and Handle.

We have a strong downtrend (safety line) - confirmed

We have price<20 and 200MA - Making it a high probability short.

Everything about the system is saying SHORT But I am calling BS on this analysis.

A part of me wants to go short just for the sake of it because the system says the next target is at R120.12.

Are banks predicting a bigger short and crash than we think?