SteynTrade
Long

JSE:INP JSE:INL Investec Waiting for Markup

JSE:INP   INVESTEC PLC
Investec has formed a Trading Range ( TR ) after Preliminary Support (PS), Selling Climax ( SC ), Automatic Rally (AR) and Secondary Test ( ST ). There has been low absorption volume in Phase B and we have now seen a spring and test in Phase C. After the test is done we can expect a markup in the TR in Phase D to the top of the TR .
Comment: Price found some resistance at about the midpoint at the Preliminary Support (PS) low. Will be watching for a break of this and move to the top of the Trading Range (TR).
Comment: After finding some resistance there was a concerning decline. However, it was on lower volume and made negative divergence on the Volume RSI. Still looking for a test of the top of the range.
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