SteynTrade

JSE:PPC PPC Limited Showing Signs of Strength

Long
SteynTrade Updated   
JSE:PPC   PPC LIMITED
PPC has been forming a base since the middle of 2016 after a down trend. The downward stride has been broken. We see low volume on the down moves and increased volumes on the up moves (Signs of Strength). After a spring we see price finding support at the yearly pivot point . After a doji formed on increased volume , a bullish reaction and divergence with the Volume RSI the expectation is for a bullish move to the recent highs at R9 and possibly as high as the next volume cluster at between R11 and R12.
Comment: My bullish bias continues. Some increased volume with a bullish reaction is seen this week. There is further negative diversion also in the shorter term with the Volume RSI.
Comment: On the daily TF we have seen a smaller TR within the Weekly TR form at the Yearly Pivot Point. Last week a potential Spring formed and we are now looking for a markup in Phase D to the top of the TR and after some consolidation then the Mark up should start.

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