A chart from today's report (zoomed in slightly vs the one in my report). For more research insights, including trade ideas, get in touch today.
NETCARE (NTC, 1419c) | Daily Chart | Monday, 31 July 2023 (Pre-Market) | NTC is a popular range trading instrument however there is no guarantee that the range will continue to hold. Whilst pattern failures are possible, throughout last week, the development of the channel was enough for me to take note of a potential opportunity. Then, on Friday, the strong candle structure with a +3.28% move placed the share firmly on the radar. Here, the 1421c level is overhead supply, however clearing this resistance could open up a swing buy/long. Note, the price has cleared it’s 8/21-EMA while the declining 50-EMA is the ‘next resistance’. MEDIUM TERM SWING VIEW.
NETCARE (NTC, 1419c) | Daily Chart | Monday, 31 July 2023 (Pre-Market) | NTC is a popular range trading instrument however there is no guarantee that the range will continue to hold. Whilst pattern failures are possible, throughout last week, the development of the channel was enough for me to take note of a potential opportunity. Then, on Friday, the strong candle structure with a +3.28% move placed the share firmly on the radar. Here, the 1421c level is overhead supply, however clearing this resistance could open up a swing buy/long. Note, the price has cleared it’s 8/21-EMA while the declining 50-EMA is the ‘next resistance’. MEDIUM TERM SWING VIEW.