Large Bear Box Pattern formed and the price broke below.
The signs were showing downside to come.
But it's been a slow trade.
200 > 21> 7 - Bearish
RSI <50 Bearish
Target remains at R2.50
ABOUT THE COMPANY
Brait SE was founded in 1991 and is headquartered in Johannesburg, South Africa.
The company has a diversified portfolio of investments in various...
Large Bear Box Pattern formed over the last year with Brait.
And unfortunately it gets worse.
The Highs have become lower and lower accompanied by bearish indicators.
200 > 21> 7 - Bearish
RSI <50 Bearish
Target R2.50
WARNING:
The breakout was definitely not a strong one. So, if there are strong prospects and investors want to protect the company, it...
Brait has been in a long-term downtrend. After a substantial redistribution in 2018, the markdown continued in 2019 with a smaller redistribution also forming. Now we have seen another range forming that has broken the downward stride of the recent markdown. Some volume on the rallies and a spring-like action has made me biased that this is a small accumulation...
Brait has been marking down in a defined channel. Price has now reached the overbought line of the downward stride and some volume is seen. Negative divergence on the volume RSI also points to a continuation of the downward trend.
Since last months Wyckoff evaluation of the trading range (see link below) we are still waiting to see a change of character signalling that the creek will be jumped. Price has tested the bottom of the trading range on low volume indicating that supply has dried up. Volume has been low since the previous high volume test of the bottom of the trading range....
