Trade Absa Group with Unum Capital.
To get started, email lester@unum.co.za
The 7-day trend is neutral.
The 14-day trend is rangebound.
50-day EMA trending upward.
75-day EMA trending upward.
200-day SMA is turning upward.
Q: What is the overall trend for ABSA Bank? A: The overall trend is upward, but there are some short-term fluctuations.
Q: What is the short-term price action like? A: The short-term trend is steady upward, but it's weaker on a lower time frame. Look for support at or just below the 50/75-day-EMA range, followed by a reclaim to trigger a rebound buy.
Q: What is the medium-term price action like? A: The medium-term price action is consolidating within an upward trend.
Q: What is the long-term price action like? A: The long-term price action is in or commencing an upward trend. However, strongly consider the potential failure to hold prior session range highs, which will create a tactical short-sell opportunity.
Related Post: https://www.unum.capital/post/absa-group-voluntary-trading-upside-accelerates-fundamental-re-rating
Lester Davids
Analyst: Unum Capital
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