technical analysis chart

Technical Breaks, Ideas and Insights – Reunert makes a Positive Break

Reunert made a positive break by breaking upwards through the downwards sloping resistance level at ZAR49.00.
The share is in the process of breaking out of a large triangle formation which is typically a positive signal.
RLO could potentially trade higher and test the resistance level at ZAR55.30 and if breached to the upside could potentially rally to the resistance level at ZAR60.00, in our view.