$JSEAFT #Afrimat - A Possible Bearish Flag
It seems #Afrimat is catching the headlines of late but not for the right reasons. As the Monthly chart shows, there is a possibility that the price might currently be forming a bearish flag pattern, and it needs to stay above the lower yellow line to escape that fate. If not, the price can go substantially lower according to the flag pattern, but still not close to my personal target lower.
Further, if one looks at the MACD, we see that this indicator, and this on a Monthly chart, was below the zero line for the last time almost 12 years ago. So still being above zero quite a bit, and pointing down, this might just be a reminder that over time all things revert to the mean. Bear in mind that this might be a longer term view, but then all longer term moves have to start somewhere, and the move to the downside has now been going for some time already.
Further, if one looks at the MACD, we see that this indicator, and this on a Monthly chart, was below the zero line for the last time almost 12 years ago. So still being above zero quite a bit, and pointing down, this might just be a reminder that over time all things revert to the mean. Bear in mind that this might be a longer term view, but then all longer term moves have to start somewhere, and the move to the downside has now been going for some time already.
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