Looking at afternoon trade, SPK represents a potential bullish opportunity should momentum continue and higher highs and higher lows be made past the current position, considering breach of recent resistance levels aligning with technical indicators of RSI and DMI. Relative strength in the Midcap 50's as well as the communications sector (XTJ) adds further impetus...
ENTRY: 4.824 (average) SL: 4.69 TP: 4.96 - ADX>25 - Daily RS +ve - Daily FFI +ve - Weekly RS +ve - Weekly FFI +ve - Moving averages are aligned. - Breakout on 18 Aug 2022 and retraced to resistance-turned-support (3.04) before rebounding off today. - Entry today based on breakout and >3% rebound off 10EMA with volume .
The New Zealand NZ50G (gross) benchmark index versus some indicative major components: Spark telecoms SPK, Auckland International Airport AIA, and then the electricity generation utilities Meridian MEL, Contact CEN and Mercury MCY along with the NZX Utilities Index G55G - and last, but definitely not the least, is presently the largest New Zealand company Fisher &...