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Technical Analysis of Brait

Daily Analysis – Brait

Today we are going to be analysing Brait.

This was another stock  picked up by my Bollinger Reversal stock screener.
As you can see from the chart the last 2 candles have broken out of the the top Bollinger band and have formed a sort of tweezer top pattern.
There is a good possibility that the price will revert back to the mean at the 7,932 area.

We are also currently well below the 200 day moving average signalling a possible continuation of the of a down trend.

Should the mean reversion area be broken the next target could be the 7,800 area and then 7,400 in extension.

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*All information in this article is the author’s opinion and is for educational purposes only. It does not constitute investment advice or a solicitation to buy or sell any financial instrument. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

Stanton Roux

Stanton Roux

Algotrading.co.za is a free online learning platform that merges my two passions software and trading. I like to bring a new twist to trading and show how software can improve your trading skills.