Chart[4] - Super Group

This week was a short trading week with relatively light market volume, yet in the case of Super Group, traded volume was fairly elevated compared to previous trading sessions.

The counter has an immediate support in the range of $0.825-0.835. Short term moving averages (MA) are showing initial signs of turning up, suggesting the possibility for further upward movement. Should there be a follow through on the trading interest in the coming week, the counter needs to overcome the current resistance level of around $0.855 (where the weekly chart shows the banding of shorter term MA and the upper end of the Bollinger Band is located on the daily chart), with the immediate price objective of $0.87 (about the 50 day MA). If the counter manages to clear the 50 day MA, the next price objective would be $0.91 and possibly $0.95.