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MURRAY & ROBERTS HLDGSMURRAY & ROBERTS HLDGSMURRAY & ROBERTS HLDGS

MURRAY & ROBERTS HLDGS

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MUR trade ideas

Murray Roberts reversing?Murray Roberts closed above previous resistance and RSI crossing the 30 scale upwards indicating a possible reversal. The hammer type candle (25 May), indicates after a strong opening above resistance with sellers trying to push the price back down but strong buying pushed the price through key resistance to close 16.53% higher for the day (short wick above with long wick at bottom). Traders should first confirm that strong buying is maintained in next sessions before considering a long position. Should this be confirmed with strong support at 437, possible next targets 488 and 561. Disclaimer: My analysis should not be construed as financial advise. Share trading is risky and unpredictable at best. I'm just sharing what I see.
JSE:MURLong
by StarChaser74
2
JSE:MUR Murray and Roberts High Volume DemandMurray and Roberts has been in a long trend with redistribution stepping stones. However, the resent trading range is showing Signs of Strength (SOS). There have been high volume, wide spread green bars showing demand for the stock. Price has broken out of the trading range and backup to test the trading range again. The stock now looks ready to start the markup in Phase E of the Wyckoff phases. The point and figure chart indicates a count well into the previous range and even testing the upper resistance line of the previous range.
JSE:MURLong
by SteynTrade