Could be peaking

Moxima Gama

it is hard to fault pharmacy, health and beauty retailer Clicks, whose financial results have continuously met expectations. But with Clicks trading in a steep uptrend, potentially peaking, any negative news could send the share price tumbling. On the charts: Clicks is trading in a steep uptrend and is testing new highs. With the three-month relative strength index (RSI) lingering in overbought territory for the past six months, Clicks could be overextended and due for a correction within its major bull trend. How to trade it: Go short: In March, Clicks confirmed a positive breakout of its flag pattern above 12 695c/ share, with the target situated at 18 120c/share – meaning the share price could appreciate further by roughly 14% to meet its target. Currently testing the upper slope of its steep bull channel, which…

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Finweek - English (Digital) - 1 Issue, 02-nov-17

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