#JSEOMU - Update
Price has reached swing high resistance and currently flagging for an attempt to break out and reach the first gap at R13.30
Price is also firmly above all key moving averages. ✅
R12.30 needs to hold on any pullbacks or risk a deeper pullback to the 20dma.
A bull flag is a bullish chart pattern that occurs when a stock is in an uptrend. It is considered a continuation pattern, which means that it suggests that the price will continue to rise after the pattern is complete. The pattern is formed when the stock rises sharply (called the flagpole) and then trades sideways for a period of time (called the flag). The flag is usually angled down away from the prevailing trend. The tighter the flag, the better the signal is said to be. The breakout from a flag often results in a powerful move higher, measuring the length of the prior flagpole
Price is also firmly above all key moving averages. ✅
R12.30 needs to hold on any pullbacks or risk a deeper pullback to the 20dma.
A bull flag is a bullish chart pattern that occurs when a stock is in an uptrend. It is considered a continuation pattern, which means that it suggests that the price will continue to rise after the pattern is complete. The pattern is formed when the stock rises sharply (called the flagpole) and then trades sideways for a period of time (called the flag). The flag is usually angled down away from the prevailing trend. The tighter the flag, the better the signal is said to be. The breakout from a flag often results in a powerful move higher, measuring the length of the prior flagpole
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