Breakouts: 08 June 2021
A look at some recent breakouts on the markets...
JSE:MNP (Mondi)
Negative break. Lower high and lower low - for a top. Well the ascending trendline give support?
JSE:PPC (PPC)
Negative breakout. A lower high and lower low. You could look at R3.00 as a potencial support or a break being an even worse lower low. Not much support under that.
FOREX:NZDZAR (NewZealand Dollar vs Rand)
Negative breakout. Just broke below R9.70 and then popped back up. Trend still clearly down.
JSE:JBL (Jubilee)
Positive break. Targetting greater than R4.17 for a higher high and continuation upward.
JSE:SUR (Spur)
Negative break. Lower low - for an inverse cup and handle. Projecting to R16. The 50MA (Moving average) is starting to point down.
JSE:BWN (Balwin)
Negative break. Descending triangle break down targeting R3.70.
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