Wednesday 20 November 2024 (Time Pre-Market)
Long & Short: Bullish Target Exceeded (+24%) & Pullback In Line With Model
The most recent pullback off the highs coincides with the reading on 07-Nov (day of price peak) which stated that 'a strong move had develop however and that buyers were in control however, traders should not chase i.e. should not buy as the price could fail to hold it's highs. In which case, the 8-day EMA could be a short/sell target.
The subsequent price action accurately reflects this model reading with the share retreating from above 5470c to yesterday's low of 4904c.
Current Rating = Weak (Previous Overbought At The Recent Price Peak)
The original (time-stamped) model reading is shown below.
Previous Post: Take Profit On This Rally https://www.unum.capital/post/sappi-take-profit-on-this-rally
Friday 08 November 2024
Time Published: Pre-Market
Ticker: SAP
Share Name: Sappi
+24% from the model reading to yesterday's highs.
Previous Post 14 August 2024
Pre-Market
Previous Post
06 August - Real-Time: 16h09
Amidst the short term sell-off, here's what the data says. (Do note, event risk in the form of earnings loom).
Lester Davids
Analyst: Unum Capital
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