sbl technical buy signal

continuing from the other thread ....

here is a chart showing some TA why SBL is technically a Buy:



as you can see on the chart i have drawn som green dots on the stochastics. these green dots also line up with the charts green dots drawn. when the stochastics turn up so does the share price.

The same can be seen when the share price is about to drop. i have drawn red dots for those.

also, since the low (L), the share price has formed a higher high (HH), followed by a higher low (HL), followed by another hgher high (HH), and we are now at a point where we could be at a higher low (HL). stochastics are turning up so the share price could move upwards and onwards to new higher highs.

todays price movement also indicate a change in direction. share price has been dropping the last few days. then today so the share price open at 2.6, drop to 2.4 and return back up to 2.6 forming a doji candle (blue u turning arrow on chart). typical move next would be an increase in share price.

now this is only my opinion and there are many other indicators i haven't looked at.... but the stochastics are a nice one !!

thanks

CEB