The pause is over. Following Distell on its way up - see posts below - we have had a pause with a week pullback but now we are ready for the next step up.
After starting to follow Distell early in December 2020 the stock has made good progress from R100 - see posts below following the progress. However, last week there was a high volume spike above R140 pushing it back below this level. This could indicate a time for the stock to form a trading range with some profit-taking holding price back. We will have to watch...
Following the markup of Distell - see post links below - after the breakout, we have seen a consolidation recently. There has been some effort (high volume) to push the price down but the response was only a shallow pullback not even making it back to the breakout level. We have now seen a significant bar and we are now looking for a continuation higher.
After the signs of strength at the end of last year - See post below - Distell is now actively being marked up with high volume.
Distell has formed a typical Wyckoff Accumulation Trading Range. After the Selling Climax (SC), Automatic Rally (AR) and Secondary Test (ST) in Phase A we saw a lower volume adsorption volume in Phase B and then a Last Point of Support (LPS). Now there has been a change in character with Signs of Strength (SOS) seen by the increase in volume and ease of movement...