"JSE-listed hotel and resort group Sun International is anticipating that its Sun City resort will have one of its best years ever in terms of operating cash flow in the current financial year following the disruption caused by the Covid-19 pandemic." - Moneyweb - 13 Oct 2022
Potential buy/long. Looking for confirmation via candle strong structure.
- Bullish ascending triangle formed on 1 Day Chart with higher lows and flat upper trendline.
- Price at lower boundary of support line.
Target 1 - R33.95
If we find a break above R33.95 and confirmed support Target 2 - R50.51
Potential buy/long. Looking for confirmation via candle strong structure.
- Bullish ascending triangle formed on 1 Day Chart with higher lows and flat upper trendline.
- Price at lower boundary of support line.
Target 1 - R33.95
If we find a break above R33.95 and confirmed support Target 2 - R50.51
Kommentar:
SUI bullish play broke out of the ascending triangle with a strong upward momentum above the R33.95 resistance.
A pullback with support would trigger decent swing long towards Target 2.
A pullback with support would trigger decent swing long towards Target 2.
Just fell short of Target 1 with a high of R33.58
Price found restriction at the upper resistance line, entering into a correction stage looking to move back down to the trending line of support.