Super Group

Super has had a super run since 2009, gaining >900%. But recently it seems to have stalled at the top end of its long term resistance at 3.29 (see the weekly chart inset) and looks to be charting a bearish descending triangle on its daily & hourly chart. Its a good stock to own, but with “super” overbought weekly RSI, a fairly significant decline may be the case unless they get bought over etc. Short term resistance/support is 3.22/3.00. Its a better buy at 2.60-2.80 long term at the lower end of a long term support & 23.6% fib retracement.



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s