I have identified a Quasimodo pattern unfolding here, the "QML BUY ENTRY" is where the initial entry to buy was, but the market hasnt yet fulfilled the TP so we can still buy the market and hold.
Since last month BIL has been pushing the overbought trend line (See last months tracking of BIL in the link below). It is now trading in a range with continued tests of the highs. There is multiple divergences between price and the Volume RSI indicating a possible break back to the oversold line. A second set of double tops can be seen. After a drop in volume on...
BHP Billiton has had a solid bullish run since the start of 2016. After falling to a low of R136.30, the share price has steadily risen, reaching a recent high of R326.73. But the mood on the stock might just have changed...
If you look at the short-term trend-line, you can clearly see it's been broken. Where it found support before, it has now found...
JSE:BIL
Broke above yesterday but by the looks it was false break.
As old saying goes from false moves come fast moves.
If market closes like this $JSEBIL will probably go and back test bottom of the channel around 30000
Marks' idea makes some compelling points, will look to do the same!
My only concern is that the price hits resistance at the top green trend-line and price falls
Marks' idea for reference -
Similar to the Top 40 chart highlighted above, BIL is looking to make an upside break following the sideways consolidation seen since the beginning of June. The price has regained it's position above it's 50-day moving average (MA) while the MA has also started to point higher.
