Purple Group Analysis
The once uptrend support line seems to have become and uptrend resistance. Purple Groups trading volumes seem to to have increased(unsurprisingly) and we saw the price dip below R1.00 today. Hopefully not a sign of things to come but could be likely. Another week or two and we should have a clear picture of what will happen. My idea is that like before, investors got excited and possibly pilled in, in anticipation o the trading report of the group happening this month. Anticipation of year results drove the share price all the way to R1.20 the last time. This could be a pattern and should not be ignored.
My guess and i hope I'm wrong, is that the price will go back down under R1.00 and hopefully rest at the 95c mark.
My guess and i hope I'm wrong, is that the price will go back down under R1.00 and hopefully rest at the 95c mark.
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