JSE:BVT has been trading in a nice upward channel since November last year. It is currently trading just below the middle of the channel and seems to be on its way up. It is also showing some good signs of upward momentum based on the stochastic, MACD and the two EMAs that are crossing based on today's price action so far. If the momentum continues, I think we...
JSE:BVT is sticking with the upward trend and has, once again, made a bounce off the upward trend line. Along with this, the stochastic, MACD and EMAs are all showing signs of upward momentum. I think we could see a move up to the previous resistance level at around the 22000 area.
JSE:BVT is showing signs of an upward move after a successful short position. Link below. Based off of the momentum indicators, we could be seeing a move to the upside. I would keep an eye on the trendline that it broke through recently as it might cause some resistance if it reaches that level.
BVT has managed to close below R135 for the first since July 2016 and during this lockdown has managed to hold above however it closed below the level on Friday and has triggered the short idea. First target at R126 and second target R118.
After a very successful short position, JSE:BVT has broken through a descending resistance level/trend line and could possibly be changing direction, which is being confirmed by the stochastic as well. If it confirms after today's price action, I will consider entering a long position.
Short term trade, but the hourly break above the channel resistance @ R179.50 should see a target close to R189.00. Entry between R179.50 - R181.50. Stop loss close below 176.00, let's see how this one goes.
JSE:BVT has opened on the other side of a descending resistance level which could signify an upward move if confirmed above today's high. There is a strong resistance level at 19000 so be mindful of that.