VillageTraderZA

Nice bullish flag on Distell, as it tests the R111 support

Long
JSE:DGH   DISTELL GROUP HLDGS LTD
Position

Average Entry: R75.50
Quantity: 4
Stop loss: R99.02

Weekly analysis

Distell is a stock I’ve held for some time. It has been moving to higher boxes over time since. Could not add to the position because I had since implemented a rule to trade in the direction of the weekly trend. The 30w EMA as of writing is only 13 points from crossing the 60w EMA . The stock broke to the R110 - R122 from the R101 - R110 box.

Daily chart analysis
Taking a lot at the daily chart . We have a nice looking bullish flag on the stock as it was testing the R111 Support which held quite well. I'm going to add to my position when the stock breaks out of the bullish flag .

Comments

Good view, thanks for sharing
Reply
VillageTraderZA Dave-FX-Hunter
@Dave-FX-Hunter, Thanks Dave
Reply
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