Partner with US
login
Open Free Account

Resources

Technical trade note BARCLAYS [JSE:BGA] - 05 June 2018

/
Barry Dumas
barclays-africa-technical-trade-note

Trade idea on Barclays Africa Group Ltd. (BGA)

I have been keeping an eye on Barclays Africa Grp Limited (BGA) after a head and shoulder technical pattern formed over the last couple of months. I missed the initial selloff from the 17095c (Neckline) level and hoped it would come back for a re-test and it did.

Note: I will be looking to place my short trade from current levels to a first target price level of 15802c if the 50-day simple moving average (SMA) stays above the price. We can also see the price is moving lower within a descending channel.

Educational: Charting Patterns 102 

Trade: Barclays Africa Grp Limited (BGA)

  • Entry (Sell): 16596c or current levels.
  • Stop loss: 17095c
  • Target price 1: 15802c

Screen Shot 2018-06-05 at 10.20.33

Source: Bloomberg

* Barry Dumas, is a Technical Analyst and Researcher at GT247.com, an online broker and authorised financial services provider.

 


gt247 Partnership Affiliate Program

Disclaimer: Any opinions, news, research, analyses, prices, or other information contained within this research is provided as general market commentary, and does not constitute investment advice. GT247.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content contained within is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.

SEARCH ALL RESEARCH