Jsentc
Netcare looking sick at the moment - Target R10.36Inv Cup and Handle has formed on Netcare since November 2023.
It is a high probability nature that the price is likely to drop as the price is below both 20MA and 200MA.
First target is to R10.36.
NOTE: I do acknowledge that there could be a short term W Formation which could cause some chop and even short term upside.
So this is indeed a medium term analysis.
Netcare is in the Twilight Zone blowing a VuvuzelaBroadening Formation has formed on Netcare which I like to call a Vuvuzela formation.
Range bounded means the indicators are Null and Void.
We need to wait for a break above or below the broadening formation - before a trend is chosen and bias.
R15.67 to the first up target before it turns down
$JSE-NTCJSE:NTC
Made inverted head and shoulders last year that confirmed with target around 2230.
Unfortunately for bulls it never pick up momentum and continue trading sideways.
On Friday it opened around neckline that acted as support. It could be good long with SL close bellow neckline and target still around 2230/2250