Cup and Handle has formed on Datatec after a couple of months. Since the price drop, it's been creeping up closing the gap ever so discreetly. We can even say it's created some type of upward channel. Either way it's looking bullish and other indicators confirm... 7>21>200 RSI>50 Target R49.21 ABOUT THE COMPANY Datatec Limited is an international ICT...
It has taken some time for the current reaccumulation of complete (see post below). It seems that it is now complete and the markup can continue. There are signs of strength with volume behind it and negative divergence on the volume RSI.
Datatec is currently being marked up after breaking the TR (See the previous post). Some consolidation after breaking through the yearly pivot point and the high after the gap down has taken place. Now it looks ready to continue the upward stride.
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.