The original analysis of Absa was on 09.03.2023 and i was cautious to bearish, link below.
The bearish outlook has now been triggered
1-Price has broken decisively below the support trendline.
2-We have a Death Cross, the 50EMA has crossed below the 200EMA on the daily chart. Many institutional investors see this as a major trend change signal.
3-The MACD has crossed below the zero-line.
Looking at the historical price action, it is hard to find key support levels and momentum looks to be on the downside in the short-term.
The bearish outlook has now been triggered
1-Price has broken decisively below the support trendline.
2-We have a Death Cross, the 50EMA has crossed below the 200EMA on the daily chart. Many institutional investors see this as a major trend change signal.
3-The MACD has crossed below the zero-line.
Looking at the historical price action, it is hard to find key support levels and momentum looks to be on the downside in the short-term.
Publications connexes
Clause de non-responsabilité
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.