Large Cup and Handle formed on Attacq.
It formed the Brim Level and then the price broke out of a Breakway gap into a new uptrend
7 >21>200 0 Bullish
RSI>70 - Bullish
Target R10.64
Breakaway gap
ABOUT
Attacq Limited (Founded in 2005 in Waterfall City, Midrand) is a South African-based real estate investment trust (REIT) that focuses on the development,...
Attacq has been in a markdown as discussed in previous posts (see link below). Some stopping volume has entered indicating a possible selling climax (SC) with an automatic rally (AR). We can now expect a test of the selling climax and a trading range (TR) to form.
After breaking the trading range and retesting the breakout level the price has started the markdown. Currently, there is some consolidation but it is now testing the overbought line of the markdown. Expecting the markdown to continue once the test is completed.
Attacq has undergone distribution and broke to the downside. After a Backup (BU) to the distribution TR we can now expect the Markdown in Phase E to start. The Volume RSI during the recent BU is showing divergence.
