Resilient (RES) - Building A Base

20 thg 2, 2019

Resilient (RES): Has formed a 12-month base in the form of an inverse H&S. Price trend is starting to turn positive (above 50&200d). Price is supported by trend line going back to Aug 2018 and the green shaded area is where one could start to accumulate. Inverse H&S will be triggered above 6750c where one could add into strength. The price has recently moved back above the 200-day and may consolidated above this level for a short while, with each pullback potentially an opportunity to add to the share. Provisionally, my stop-loss would be R53.90 with a first target of R79.

RES