Since July 2019, it's been forming a Cup and Handle and finally has broken above. Looks good for upside.
Price has made its way down from the monthly highs near 11300 and is a trading just above the lows we saw in mid-April. Given the strong downtrend that this share finds itself in, we have no reason to look for longs as yet - only a close above 11300 would interest this trader in a counter-trend buy. I'd like to see a close below 8860 - this would open the way up...
JSE:APN Making box at hourly chart. Break above will probably bring 5% upside
APN around R170-180 good long term buying zone. both horizontal and diagonal support confluence around this zone
Last week Lester highlighted APN as as "opportunistic buy" after the fall from R290. It looks like R263 to 264 is still a level where buyers have lined up to take advantage of the fall. This is also in line with the 50dma. Once again stay cognizant of the USDZAR. MariusGrobler301 is having a look at this trade for our clients.