UPDATE: Mustek is on its way to R19.09 on trackW Formation formed and broke above.
We then had some whipsaws (jumps). The volatility of the markets showed that the stop loss needed to be wide and far from the general movements.
This is what keeps you from being shaken out.
Then other indicators showed upside to come including.
7>21 (Bullish)
Price >200 (Green)
RSI>50 (Green)
The target remains at R19.09. The momentum is picking up nicely.
ABOUT THE COMPANY
Mustek Limited was founded in 1987 and is headquartered in Midrand, South Africa.
Mustek is a distributor of computer hardware and software, including PCs, laptops, printers, and peripherals.
The company operates in the ICT (Information and Communication Technology) sector and has four main business units: Mustek Limited, Rectron, Mecer, and Mustek Security Technologies.
Mustek has operations in South Africa, Botswana, Namibia, Mozambique, Zambia, and Zimbabwe.
Mustek Limited is the oldest and largest of the company's business units and is focused on the distribution of IT hardware and software products.
Rectron, a subsidiary of Mustek, is a distributor of IT products and solutions to the Southern African market.
Mustek has a partnership with Lenovo, a global technology company, to distribute Lenovo's products in South Africa.
