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Bidcorporation

Bidcorporation

BID - Long based on fractal/resistance breakout JSE:BID is showing signs for a potential long. After the fractal formed on Monday, it has since broken through the 5 candle descending resistance line. This could mean a nice upward move if it continues upward and triggers the trade.

Long

BidCorp JSE:BID consolidating near the recent all-time high. A close above R411 will be a breakout confirmation and will warrant a long position with a stop below the consolidation area, preferably no more than -10%.

Long

by Trend_Trader_JSE

Short triggered on BID All three of the momentum indicators signaled a short position on JSE:BID . Yesterday's price action triggered the short position. We are now aiming to reach the target around the 334 level.

Short

Bidvest JSE:BVT (pending) breakout. We've already seen a decent move on JSE:BID last/earlier this week, maybe the Bidcorp magic might come to JSE:BVT .

Long

by Trend_Trader_JSE

Bidcorporation still in the Twilight-zone It definitely can seem tempting to buy (go long) a stock like Bidcorp as by theory it's broken above the Cup and Handle pattern and the moving averages look great 7>21 >200. However, it's also good to look at the broader picture of price action. Bidcorp has been moving in a sideways rectangle formation since February 2021... I think only above R30.00 will give me some semblance of hope of a new bull run... Until then, I'm hesitant to go long.

Updated

BID possible short With today's price action so far, JSE:BID seems to be showing some good downward momentum. Based off of the EMA's crossing today as well as the stochastic and MACD moving downwards it looks like a downward move is on the cards. I predict that it could move down to the 28000 support level which would coincide with the support level around the 200SMA.

Short

BID - Strong resistance level JSE:BID is trading at a very strong resistance that has been held and tested multiple times since 2016. My logic tells me it won't be able to break through and will bounce down again. If it does this and comes down, I will consider a short at the 27700 level. Alternatively, If it breaks through and continues up, we will likely see a nice strong breakout to the upside.

Short

BID - potential loss of upward momentum JSE:BID is bouncing off a strong resistance level and is struggling to break higher. If it trades lower than 27000, I will consider a short position as the stochastic and the MACD are showing signs of a momentum change. If it trades lower, the two EMA's will also have crossed downwards signaling a momentum change.

Short

BID bounce off of resistance JSE:BID has had some good bullish momentum for the month of November so far, but when it reached the significant resistance level around 28100 it failed to break higher and is showing signs of a turnaround for a downward move. If it breaks through the 200 SMA and confirms by a break below the lows of 10 Nov, I will consider entering a short position.

Short

Triangle Breakout on BID Corporation JSE:BID has broken through the bottom of a triangle pattern with today's price action so far. If it continues downwards and confirms through the previous lows of around 24500 I will consider a short position. Once broken through, it might find some support around the 21500 level, but could also move all the way down to the 18000 level.

Short

BID - Rectangle break Short BID has been stuck in a range bound rectangle between R280 and R288. However, R276 has been a level it hasn't been able to break. A close below R276 triggers a short idea with R264 target. Should it trigger a stop loss would be a close above R280

Short

by JonathanOtero7f

Updated

Harami on BID JSE:BID formed a bearish harami pattern with yesterday's movement. This could mean a downward move. I will wait for confirmation, as the upward momentum has been quite strong lately.

Short

BID Bullish Harami JSE:BID ha formed a bullish harami and is looking good for an upward move if confirmed by todays price action.

Long

BID Corporation at Resistance JSE:BID has been trading in a channel for a while and is at the strong resistance at the top of the channel. I am anticipating a downward move back to the bottom of the channel as it seems to have struggled at the resistance level before. If the downward move doesn't happen and it breaks through the top of the channel, I will consider a long position.

Short

Updated

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