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DATATEC LTD
Long

JSE:DTC Datatec Looking to Close the Gap

By SteynTrade
Updated
Datatec has formed an accumulation trading range (TR) and backed up (BU) to the TR after the breakout. Today there was a breakout of the BU Trading Range. The markup in Phase E can now be expected and potentially could close the gap formed in January 2018.
Note
We have seen a consolidation at the yearly pivot point with declining volume and divergence in the RSI. A break of the pivot point could result in a good move higher but a break of the advancing trend channel will cancel this idea.
snapshot
Note
Well, it was a break of the channel and 50DayMA.
snapshot
Note
A spring and break above the yearly pivot point with volume could indicate that this was reaccumulation.
snapshot
accumulationjsejsedtcSupply and DemandSupport and ResistanceVolume IndicatorVolumewyckoff
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