Potential Buy/Long Setup on JSE:QLT driven by these key factors:
- Price support seen at 20.32 and 20.50 - Prior bullish turns on Money Flow Index accompanied by rising price while bearish turns has seen the price move lower. See chart marked 1,2 and 3 (bullish turns) as well A and B (bearish turns). - Stochastic Bullish Divergence - Accumulation/Distribution is trending lower however the RSI for the ACC/DIST is signaling bullish divergence
I am looking for strong price action above 2040c as confirmation for a buy/long.