Capitec showing strong downside to come to R1,528
Inverse Cup and Handle formed on Capitec and the price has just been on a strong downside trend for the last year.
We had a break below the brim level with indicators showing strong negative divergences.
200>21>7
RSI>50 - Mixed
Target R1,528
ABOUT THE COMPANY
Capitec is a South African retail bank that was founded in 2001 and is headquartered in Stellenbosch, Western Cape.
The bank has been recognized as one of the fastest-growing retail banks in the world, with over 16 million customers as of 2021.
The bank offers a range of low-cost products and services, including savings accounts, loans, and insurance.
In 2017, Capitec was named the best bank in the world by the Lafferty Global Awards, which recognized the bank's focus on customer service and its commitment to financial inclusion.
The bank has a market capitalization of over ZAR 200 billion as of March 2023.
We had a break below the brim level with indicators showing strong negative divergences.
200>21>7
RSI>50 - Mixed
Target R1,528
ABOUT THE COMPANY
Capitec is a South African retail bank that was founded in 2001 and is headquartered in Stellenbosch, Western Cape.
The bank has been recognized as one of the fastest-growing retail banks in the world, with over 16 million customers as of 2021.
The bank offers a range of low-cost products and services, including savings accounts, loans, and insurance.
In 2017, Capitec was named the best bank in the world by the Lafferty Global Awards, which recognized the bank's focus on customer service and its commitment to financial inclusion.
The bank has a market capitalization of over ZAR 200 billion as of March 2023.
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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