Reverse Cup and Handle formed broke out and went up.
Now there is a Rounding Bottom (V shape) and the price is showing strong demand still.
7>21>200
RSI>50
Target 1 remains at R460.00
ABOUT THE COMPANY
Reinet Investments S.C.A. is a Luxembourg-based investment vehicle founded in 2008.
The company was created after a restructuring of the Swiss luxury goods...
Reverse Cup and Handle has formed on the daily chart.
The price broke above the brim level, and since then has made higher lows.
There are other indicators showing upside to come including.
7>21>200
RSI>50
Target 1 = R460.00
CONCERNS:
The price action is very volatile and jumpy. This is not conducive for trending and breakout trading systems as there can be...
Reinet is being marked up but is now overbought. With some volume at the upward stride trendline, we could see a correction in the short term. See posts below following the accumulation and markup.
Following the accumulation of RNI (see series of posts below) we have seen a backup and am now ready for the markup to continue. There is negative divergence on the volume RSI. Volume is increasing on advances and decreasing on declines indicating a readiness to advance. There is no volume at the bottom of the pullbacks which indicates that there is no supply left...
Reinet has been in a trading range (TR) around the yearly pivot point. After a sign of strength (SOS) with increasing volume and a backup to the TR on decreasing volume the stock is now being marked up out of the TR. Looking for a push to R280.
I have been watching the accumulation of Reinet since the beginning of the year (see post below). After an extended re-accumulation, it is breaking out with some volume and sign of strength. Watching for markup to previous highs
Reinet has been under pressure but the latest range shows signs of accumulation. Price has potentially formed a Phase C spring and the spring has been tested. Divergence with the volume RSI indicates upward volume pressure. Volume has been declining during the current trading range possibly indicating that the supply has been absorbed. Price is now testing the top...
