JSE:EOH looks to have completed its pullback from its previous move up. Price rejected the 61.8% Fib retracement level and has bounced off the intersection of previous trendlines confluenced with the 50% retracement level. Should this be the start of the next move up, a potential target could be the measured move of the previous leg up bringing a target of 960 - 970. The break of the 770 resistance will add to the momentum pointing higher.
*Disclaimer* Purely an analysis and opinion, this does not constitute financial advice.
*Disclaimer* Purely an analysis and opinion, this does not constitute financial advice.
Note
Idea invalidated with recent price action
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.