Cup and handle formed on the daily.
We need price to break above and close above the brim level to confirm upside to come.
7>21 bullish
Price<200 but likely to head up to equilibrium.
RSI>50 Bullish
Target R30.24
SMC
SSL (Order block)
ABOUT THE COMPANY
Dis-Chem was founded in 1978 by Ivan Saltzman and his wife, Lynette.
The first Dis-Chem store was located...
Following the downward stride (See post below) Dis-Chem was testing the overbought line. Some selling volume was noticed and today there was effort and response pushing the price down.
Dis-Chem has been following a downward trend channel. It is currently at the overbought line which is also a backup to the previous breakout level. With some volume in the rejection of 2400 level Dis-Chem is set to continue the downward stride.
Dis-Chem has started a long term and large Trading Range in June 2018. The range boundaries have been set in Phase A between R24 and R35. After a Selling Climax (SC) and Automatic Rally (AR) we have now seen a Secondary Test (ST) of the SC lows. A small TR has now formed at this support and we have seen a Spring. We are now expecting a markup out of the small TR...
