PPC has hit a ceiling at around the R 3.25 price range which we identified as a major resistance. Closing off the week at just under 3 rand the share still looks very strong. If the share price breaks the R 3.25 resistance there might still be the R 3.50 which could be the last line of defense from a strong bull run. For now we can expect some moderate growth, at worst perhaps a minor horizonal trend before breaking resistance. If thing go the opposite direction however there are some buy in points at R 2.50 and R 2.75.
As always the further it stays away from the uptrend support, the better. And at this point it is at quite a distance.
As always the further it stays away from the uptrend support, the better. And at this point it is at quite a distance.