Argent Rectangle showing mixed signs with bullish bias to R17.83Rectangle formation is forming on Argent,
7>21 and Price>200
RSI<50 - Mixed
Target R17.83
CONCERNS:
High volatility and low liquidity signals show an unhealthy chart, which is not great for breakout trading.
For investment purposes it looks like Argent wants to break above the Rectangle and head to R17.83.
But with the mixed signals and erratic price action, this is anyone's guess.
ABOUT:
Argent is largely a steel-based beneficiation group with a very diverse portfolio of businesses that include international brands.
The group’s activities are based in Gauteng, the Western Cape, Eastern Cape, Kwazulu-Natal and Mpumalanga, with one subsidiary (Cannock Gates) in the United Kingdom and one (New Joules Engineering) based in North America.
