JSE:AVI Lining up for a poor start to 2019
Updated
AVI has been ranging since the beginning of the year. However, this looks like a distribution range. The declines with in the range have wider bars and sharper declines than any previous declines since listing. The last decline was on high volume and the attempted rally seems to be failing at the Yearly Pivot Point. Will be watching for price action and if the oversold trend line will be broken decisively for the markdown to start.
Comment
With the largest single down day, the Markdown has started. Negative divergence with the volume RSI confirming effort without response. The distribution could be complete.Comment
The markdown continuesComment
After a redistribution range, we see negative divergence and continuation of the markdown.Comment
After a re-distribution TR with an upthrust and now a sign of weakness the markdown continues.
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