JSE:BVT Bidvest Fails to Break Previous Resistance
Bidvest tried to push above the previous resistance at R175 but failed on lower volume. This indicates an upthrust (UT) after distribution and opens the path for the markdown in Phase D to start. We are now looking for a break below the bottom of the trading range at R130 to open the path for a markdown in Phase E to even lower prices.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.