SBSW: Follow up on cup with handle. Precious metals.
I last posted on this stock in July. (link below if interested). It continues to look like a cup with handle to me. There was a recent break out above the short term down trend channel and the stock price then returned to the channel. I think it may continue short term to close the gap (2 hour chart) or may start up again now. Note the level "2" is at the up channel mid line which sometimes acts as a support and is a 50% retraction of "1". This currently has an 11% dividend rate. Watch to see if it arises out of the current down channel and goes above the current near term high, If it does I am looking for a longer term target of 37-48. Additional support for this idea would be a close above the "1" level.
As always process your way. Make your own decision.
Have a great weekend.
As always process your way. Make your own decision.
Have a great weekend.
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