$JSEBAT Nice pullback here, if it can break R4.15 this can go!$JSEBAT Nice pullback here, if it can break R4.15 this can go!
BRTOR trade ideas
JSE:BAT Brait Accumulation?After the selling climax in March, we have potentially seen an accumulation trading range that is ready to break and start the markup. Price is wedged between the 50 and 200SMA and contracting. There is a negative divergence in the Volume RSI. The Relative Strength to the Top40 is showing an increase and is above the 55SMA. There is volume in the up moves and higher highs are forming indicating Last Point of Supports (LPS) are forming. A break above the 200SMA and breakout of the Trading Range could move back to the yearly pivot point or at least the previous support around 1000.
JSE:BAT Brait AccumulationBrait (BAT) stock is being accumulated since December 2017. A volume profile cluster is found between 37 and 39 were buyers have been active. After some high volume tests at the bottom of the range, a lower volume test indicates supply has dried up and the stock could be ready to be marked up. There is divergence between price and the Volume RSI. Once the volume cluster is broken then the cluster at 43 is a target. Price action at the top of the range will indicate if the stock is going to be marked up or there will be another test of the supply line.
BAT - BraitBrait (BAT) | On Friday the share closed above a 3-week pivot after having advanced in the prior 4 sessions on rising volume. Our preferred short and medium term moving averages having been cleared over the period which raises the potential for a short term advance from current levels or slightly lower toward the 355-360c level.
JSE:BAT Brait Short Term AccumulationBrait has been in a long-term downtrend. After a substantial redistribution in 2018, the markdown continued in 2019 with a smaller redistribution also forming. Now we have seen another range forming that has broken the downward stride of the recent markdown. Some volume on the rallies and a spring-like action has made me biased that this is a small accumulation range. This backup in the longer-term downtrend could take us back to the previous smaller redistribution range and possibly the larger redistribution range and yearly pivot point. Divergence on the volume RSI also points to a short-term rally.
Another Bear Flag on BraitI previously highlighted a bear flag which was forming on the daily chart, after which we saw the big price drop on January 14.
That January 14 big red candle is now acting as the 'pole' for another bear flag which is/has formed.
At a price of R28 (or better) I'm going 'Short'.
JSE:BAT Brait still waiting to see the change of characterSince last months Wyckoff evaluation of the trading range (see link below) we are still waiting to see a change of character signalling that the creek will be jumped. Price has tested the bottom of the trading range on low volume indicating that supply has dried up. Volume has been low since the previous high volume test of the bottom of the trading range. Divergence with the Volume RSI indicates the upward pressure in the stock. It now looks that the stock could be ready to be marked up with in the trading range to test and potentially break the top of the trading range.
