Last week MRP released Trading Update which wasn't received well by the market, which took the price from last week's highs above R250 to current levels below R215.
Technically, looking at the weekly chart, we have a rising wedge pattern which has since broken to the downside, and now we have the 200 day moving average sustaining the price.
If the 200dma is breached, it could expose the R180/R185 area.
I'm monitoring for a Short once we close below that 200dma.
Technically, looking at the weekly chart, we have a rising wedge pattern which has since broken to the downside, and now we have the 200 day moving average sustaining the price.
If the 200dma is breached, it could expose the R180/R185 area.
I'm monitoring for a Short once we close below that 200dma.