Timonrosso

Coronation Fund in a box formation - waiting for a break

JSE:CML   CORONATION FUND MNGRS LD
Box formation is strong with CML.
We need to wait for the price to break up or down from the formation, or it can be a long sideways move.
If it breaks up the target will be R46.00
My bias however is more to the bearish side.
and so if the price breaks below the current uptrend line and below the box formation, it's pretty much a given.
Provided that that the breakout remains and doesn't become a fakeout again.
21>7 =200
RSI<50
Will have to wait and see.

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Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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