With the previous support broke we wait for the second support level to be broken and then entering into a sell. the moment we see wicks on the bottom side of the candlesticks and a low volume.
Alexander Forbes has been in a trading range which seems to be accumulation. Volume increases at the bottom of the range and divergence of the volume RSI show upward pressure (Effort without response). We have seen a Sign of Strength (SoS) and Change of Character (CoC) after a spring and currently a low volume test has occurred.
Nedbank has been in an upward slanting re-accumulation range over the festive season. With some volume returning we see a continuation of the move to the top of the channel. There is some negative divergence in the Volume RSI and a good momentum bar on Friday.
Last year I followed the distribution pattern on RMI (See post below) which now seems to be completing. Price had found support at the at the bottom of the Trading Range (TR) but was unable to rally back the top of the TR. After some consolidation, we see a change of character bar (Significant reversal bar). RMI could now be ready to break out and start the markdown.
PSG was in an accumulation TR and is currently breaking out. After a last point of support (LPS) and back up (BU) to the TR we now see a break out with some volume indicating the markup has started.
SAP has been in a trading range after a Buying Climax (BC) in May 2017. It looks like a Wyckoff Distribution is taking place. There is increased volatility and volume on the declines and low volume on the up moves. The declines has been larger and quicker than any of the declines in the uptrend leading to the BC . Increase volume is seen mostly at the top of the...
On the daily timeframe (TF) following the Wyckoff logic, there was a change of character that formed a Trading Range (TR) with the Selling Climax (SC) and Automatic Rally (AR). This is at the bottom of a larger TR on the weekly TF (See post below). After a Secondary Test (ST) of the lows, the price is testing the top of the TR again. This is also the 2019 Yearly...
After a Change of Character (CoC) and major Sign of Weakness (SoW) the JSE Top 40 has been seen the start of a smaller trading range (TR). Price is now approaching the top of the TR (Round number 49000) with confluence with the 200 Day SMA and the 2019 Yearly Pivot Point. The Rally is seen on lower volume than the decline and negative divergence with the RSI....
Raubex has started trading in a downward sloping channel. Significant divergence is seen between the with the RSI rising and the Volume RSI pushing lower. This indicates selling in the background even as the price was rising. Price has found resistance at the upper channel line and the 2019 Yearly Pivot Point. Looking for a continuation of the downward stride.
AVI has been ranging since the beginning of the year. However, this looks like a distribution range. The declines with in the range have wider bars and sharper declines than any previous declines since listing. The last decline was on high volume and the attempted rally seems to be failing at the Yearly Pivot Point. Will be watching for price action and if the...
NEPI has been range bound since February. At the end of November we have seen a spring on high volume. There has been a lower volume test and I am waiting for a good bullish bar to start building a position and a jump across the 200Day SMA. However, some caution is still needed as the 200Day SMA seems to be holding. There is divergence on the Volume RSI confirming...
Reconsidering the evaluation of the trading range (TR) it could be evaluated as an inclining TR. The initial part of the trading range had some signs of accumulation but after an up thrust (UT) a strong distribution character has emerged. Before the end of 2018 price had a change of character (CoC) with signs of weakness (SoW) on increasing volume. Now the Top 40...
In 2017 Financials were $8 Million in Total Revenue, Gross Profit was over $3.2 Million and Net Profits were $602K. $TREP Does not dilute and does not convert $TREP has Total Revenue of $6.9 Million in the first 9 months of 2018. $TREP being a PEO has Prepaid Workers compensation Assets of $19.9 million. $TREP Total Assets are $21,884,236 I do believe the...
After very low volumes of the holiday period today there was a strong push to new highs with volume returning. Will be looking for a move to the supply line of the upward stride.
Using the Wyckoff logic we seem to be in a downward sloping Accumulation Trading Range (TR). Volume has declined since the Selling Climax (SC), which seems to be due to the lack of interest in buying the USD which had been driving the EURUSD down. We see a potential spring and test in Phase C and am now looking for the markup in Phase D to start. Currently, there...
Gold has been forming a base since 2013 that may be resolving itself. Looking at the wcykoff phases we have potentially seen a Last Point of Support ( LPS ) and am currently seeing the markup in phase D. There is diminishing spread and volume on backups and Signs of Strength (SOS) on rallies. On the volume RSI we see negative divergence sowing supply being...
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