Pepkor (PPH): Facing Tough Resistance

PPH is seeking to have a yearly low price point, 19 Dec price point is a contender, however the current price action is up against declining trendline resistance (pink) & price was rejected where this line intersects the 200 DMA & upper resistance of the rising wedge.

There is a possibility of price having another go at the resistance after bouncing off lower support of rising wedge before final turn for a move to the downside towards the 200 week moving average.

Trade geschlossen: Ziel wurde erreicht