JSE:DGH Distell Taking Next Step UpThe 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.
DGH
JSE:DGH Time for a RestAfter 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 how this plays out to see if it is an accumulation trading range.
JSE:DGH Effort without responseFollowing 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.
JSE:DGH Distell BreakoutAfter the signs of strength at the end of last year - See post below - Distell is now actively being marked up with high volume.
JSE:DGH Distell Ready for MarkupDistell 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 to the upside. After a declining volume pullback or Back-Up (BU) som volume together with a reversal bar points to the mark-up being ready to start.
