Richemont has been in an accumulation range since 2014. After some preliminary supply (PSY) and a buying climax (BC) price moved sideways with someone accumulating stock between R100 and R105. After a spring down to R80 in March 2020 price met with high volume buying and has pushed higher on slightly lower volume indicating that the buyers are holding the stock...
I have been waiting for this significant bar since March - see post below -. A significant bar with some increased volume yesterday could get things going to higher prices. It is pushing away from the yearly pivot point and we could see some momentum now.
EURCAD could potentially move back to the 1.51800 area (and beyond) if the Demand zone, which was tested once before, holds for the second time around the 1.50700/800 area. A potential confirmation that the Demand zone would hold would be a combination of bullish price action (candlestick) and a relative increase in Volume (bullish pressure). Today is also a day...
After some time hanging around the yearly pivot point, Nedbank is now ready to make the push to R200 to finally recover the covid losses. I have had to have some patience with this one - see posts below.
Still following Aspen progress - see posts below. However, it has taken some time. Looking for a clean break above resistance and follow through.
As previously indicated Prosus - see links below - is following Naspers down and gaining momentum in Phase D of a Wyckoff analysis.
Following the distribution of Naspers - see the links to 5 posts below - we have had another test of the highs with rejection on above-average volume and spread. The markdown in the Wyckoff method Phase D labelling is gaining momentum. This is confirming my original evaluation of a distribution.
Increased volume is reading NPK for the break out above the yearly pivot point. We observed the underlying strength in the stock - see link below- but the increased volume could indicate the readiness for the stock to start the move.
Following the progress of Aspen - see posts links below- we have seen a reaccumulation range. Some increase volume before the Easter break with a significant bar could be reading the stock to take the next step higher.
Since the lows, in March 2020 City Lodge Hotels has seen increased trading volume on the JSE at the 320 level and below. We have now seen a pullback to this level which is also the 50 and 200daySMA with increased volume significant bar. This looks like the markup in Phase D of the Wyckoff trading range and we can expect this to continue to the top of the trading...
A high volume buying climax in the last couple of day is playing out the accumulation range previously identified and we are now in the markup phase. See the post made in January below. However, the high volume is likely to be a buying climax that is likely to roll out into a trading range. This trading range is likely to be a reaccumulation trading range and...
DAILY 3/4/2021 : Breakout : Down Trendline Market Stage : Uptrend EMA : Price > Ema20 > Ema50 > Ema200 Breakout Volume : 7.5x times Trading Breakout Value : Rm69 Juta Weekly 29/3/2021 : Breakout : Down Trendline Market Stage : Uptrend EMA ...
That 9 EMA is lurking underneath that 21 EMA Sitting at an area of support Got a bullish catalyst with some price target upgrades Sitting above the point of control on the vol profile Trading at key fib levels. We should see a 9/21 bullish cross at the upside cross of the 50% fib, to try to retest the downtrend resistance.
Prosus still following Naspers down with some significant volume and bar on Friday.
Friday brought a significant bar, some volume and a break of the 50SMA which all indicates some momentum to the downside. See posts below following Naspers lower.
Shoprite had a push to break the yearly pivot point with some volume but after a the upthrust (UT) there has been two lower volume test that has failed. A large reversal bar yesterday also indicates the path lower is open now. We are likely to test the 10000 level and potentially breaking it. This looks like a backup (BU) after the breakout of the previous trading...
The JSE has had a good run showing some signs of strength (SoS). After a spring and markup, we tested 60000. Buying interest is lower than November/December which could indicate some consolidation in the short term. This could result in a backup with a set of the breakout level at about 54000. Will watch how this develops.
Prosus is being distributed on the back of Naspers - see posts below. Time to watch for the volatility.