Quilter is in the timing band for a daily cycle low, we will know this is confirmed when price closes above the pink resistance line set over recent price action. Investors who missed the bus can consider this as a safer entry point, higher risk accepting investors can buy before confirmation by considering how price is bouncing off the support of 200DMA, dashed trendline & horizontal black line, triple support is much stronger support to break on pullbacks.
Kommentera:
Quilter confirmed a cycle low with a price of R19.41, this is the failure point of the cycle, we should expect price to bounce off support and 200DMA without going lower than this price, if it does the weekly view turns bearish.
Kommentera:
Having breached R19.41, Quilter did not waste time confirming a bearish thesis. We must be patient on the sidelines or assume a short position.
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