Bidvest has broken the ascending stride and retested it. There is negative divergence indicating a continuation of the new downward trend. The smaller trading range (TR) on the daily also indicates that this is distribution and we can expect a test to the recent lows and possibly the demand line of the descending stride.
Comment:
There is a revisal bar at the Yearly Pivot Point, the bottom of the previous upward stride and now the overbought line of the new downward stride. Expecting the decline to continue.
Comment:
After testing the bottom of the trend channel for some time the distribution continues.
