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Writer's pictureLester Davids

African Rainbow Minerals: Slowdown In Bearish Momentum - Thursday, 12 September 2024

Real-Time: 10h21

Ticker: ARI


The share has found support at the previous swing low and is rebounding from deeply oversold conditions.


This setup was discussed on Monday, 02 September.


The chart is 'current'



 

Pre-Market

Ticker: ARI


  • As per my report on Monday, 02 September (Active Trading Plan), the share is approaching key levels i.e. the previous breakout range and the previous swing lows.

  • Also note the following, yesterday we saw a 'doji' candle being printed, which may be early clues of a slowdown in downward momentum.

  • Note: Event risk in the form of earnings at present (Friday, 06 September).

  • The slide from my report is shown below.



Lester Davids

Analyst: Unum Capital


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