JSE:COH Curro Climatic ActionCurro has been in a markdown for some time (see previous post below). We now see some buying volume stoping the decline. Following the Wyckoff theory, the selling climax (SC) indicates the start of a trading range (TR). This could be another stepping stone in the markdown or is it the start of an accumulation TR. But for now, we can expect the stock to be range-bound for some time. After the SC we can expect an automatic rally (AR) back to the previous breakout level.
COH trade ideas
Curro Inverse H&S Formation and Positive Divergence NB this is not TA. Merely my novice opinion of what I see.
It seems that JSE:COH is busy printing an inverse H&S bottom formation. Both RSI and MACD has positive divergence and RSI shows quite a bit of room to the upside. Should price action break the resistance of the downward channel, fulfill the inverse H&S formation, and bounce off the current downward channel resistance as support, JSE:COH may do very well. I am watching closely. What are your thoughts ?
Should this pan out, a great entry point would be after COH price broke through the downward resistance, fulfills the Inverse H&S formation, makes a correction and bounces off the current downward channel (then as support) Then up would be the only option :-)
JSE:COH Curro "Marking" DownCurro Holdings have been in a downward trend and declining in steps. There has been an effort to push the price up but without response. We see this through the hidden divergence with the Volume RSI. Price has again reached the bottom of the previous step and has been rejected again indicating the markdown continues.