Since June, the share price of Nepi Rockcastle has faced resistance around the R134 level, with each test being met with sellers stepping up. This consolidation has also seen the price develop an ascending triangle formation suggesting that buyers remain interested in accumulating the share. Today, we are seeing the price attempting to break above the overhead resistance, with the price testing a 10-month high of R134.74. Should we see a pullback to below 13300c, this may offer traders an opportunity to take a buy/long position in anticipation of a short term upward trend being developed.
Trade Plan for NRP:
- Buy on a pullback to below 13330c
- Should the price make a sharp pullback, use a stop-loss of 12900c to protec capital
- Take profit at 13950c and 14200c
Trade Plan for NRP:
- Buy on a pullback to below 13330c
- Should the price make a sharp pullback, use a stop-loss of 12900c to protec capital
- Take profit at 13950c and 14200c