Between December 2018 and June 2019, we have a bullish divergence. With the share making lower lows but the oscillator making higher lows. Since that time the share has been making higher highs and higher lows. The news with the vaccine possibly being manufactured by Aspen could push the share higher. I’m looking for a breakout above15082c, looking for a 3% higher close at 15534c
We have a nice looking inverse head and shoulder pattern on Rand merchant. The formation of the left shoulder and the head, also saw the share had a bullish divergence. I’m looking for a break above the neckline at 3278c. The 30w EMA is looking to cross the 60w EMA (my trend indicators).
Multichoice has been quite bullish, following the acquisition by Canal +. We now have a nice bullish flag on the share. Perhaps the launch of their new decoders which can stream Netflix and Showmax could be a catalyst to some further rally.