- Pre-market Tactical Perspective:"Aggressive Selling, Wait For Lower Time Frames To Stabilize"
- Both the 7 and 14-day RSI is extremely oversold, with the share having declined from above R2250 to the last close and R1529, which is also the lowest level since February.
- It's possible that the swing support of 28 January to 04 February is held (R1480-R1510).
- Our analysis also notes a 2-tier trend line where, if the first short term resistance is breached, could offer an opportunity on the long side as an ultra short term swing.
Note: First confirmation of a potential long is a break of line 1_2.
- Both the 7 and 14-day RSI is extremely oversold, with the share having declined from above R2250 to the last close and R1529, which is also the lowest level since February.
- It's possible that the swing support of 28 January to 04 February is held (R1480-R1510).
- Our analysis also notes a 2-tier trend line where, if the first short term resistance is breached, could offer an opportunity on the long side as an ultra short term swing.
Note: First confirmation of a potential long is a break of line 1_2.
