UPDATE: Absa Target reached at R181.95 what next?

27 Haz

Cup and Handle formed on Absa, broke up and out of it.

On 12 June I said it was imminent for a breakout to the upside, but I had NO clue how fast this thing was going to rally.

And it was only a Medium Probability Trade
Price>20
Price<200

Now that the price has shot up, it obviously is silly to just buy and go long without waiting for a trend confirmation signal in my case.

But we do have a DOWN gap (Breakaway gap) that has a 70% chance of closing based on history.

However, we need some bullishness before we do anything.