Bidvest has been moving in a sideways consolidation pattern called a Diamond Pattern since November 2023.
This is where there is a tug of war between the bulls and the bears.
BUt the fact that the price is holding quite well despite the international market crashes, means the buyers are holding the stock strong.
It will most like need a few more weeks/months...
Bidvest pulled back quite sharply after publishing results and has bounced off what looks like support around 230 - 235 area. I would look for long here with a stop loss on a close below 226 and a TP to the upside of around 254.00 initially. Some feel the share price has possibly overreacted to the results, which could add conviction to the long idea.
Bidvest (BVT) is a highly diversified South African company with dozens of subsidiaries. Its most notable investments are 66% of Bidvest Namibia which also owns a large property portfolio rented out to various Bidvest companies and 50.1% of Adcock Ingram. Its subsidiaries are organised into 6 divisions - Services, Freight, Automotive, Office, Print & Commercial...
Bidvest (BVT) is a highly diversified South African company with dozens of subsidiaries. Its most notable investments are 66% of Bidvest Namibia which also owns a large property portfolio rented out to various Bidvest companies and 50.1% of Adcock Ingram. Its subsidiaries are organised into 6 divisions - Services, Freight, Automotive, Office, Print & Commercial...
Capital 99%
Risk on trade - 1%
Expected Return - 2.5%
Trades are fictional and conducted for portfolio building purposes.
Strategy: Multi-Timeframe Market Structure Long Model
Pure technical strategy to capitalise on order-flow trends.
1. Price Formation: The price has broken out from a Cup and Handle price formation on a daily chart. The "Cup &Handle" pattern is considered a bullish reversal pattern, indicating a potential upward trend.
2. Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a positive sign indicating short-term bullish momentum.
3. 200-day Moving...
BVT confirmed a cycle low on 31 May, however this low did not fail (did not go lower than 3 March). Looking at the RSI we can see it close to being overbought while on the chart we see price arriving at the median of the Pitchfork, these are conditions where price makes an early top or Half Cycle High before turning downwards & go decisively lower than 31 May...
Falling Wedge has formed on the daily.
We need the price to break above before it's confirmed.
Price>200 which is showing the uptrend despite 21>7ma - There could be a change of trend, if we see further upside.
RSI<50 which isn't comforting, hence we need the break out.
Target R270.00
ABOUT
Bidvest, is a South African conglomerate company and was founded in...
Bidvest Ltd (BVT): Two weeks ago I discussed the poor candle structure and a break below the 8/21-EMA range. The weakness has continued with the share looking tobreak below the range lows. Potential ultra short term demand is around the 24800c level while 24350c is ‘extended support’. Do also note the unfilled gap at 23404c.
A Bullish Fair Value Gap is a 3 candle structure with an up impulse candle (2nd) that indicates and creates an
imbalance or an inefficiency in the market.
WHAT DO THE IMBALANCES TELL US?
These imbalances tell us that the buying and selling is not equal. Now the market needs to rebalance (move at least to 50% of the fair value gap to fill) to make up for the...
Cup and Handle formed on BVT
We had 7>21>200 - Bull
RSI >60
Raised stop R266 hit
Target R285.44
SMC
You can see a FVG Bullish formed where the 1st and 3rd candle didn't overlap.
Hence we have had a pull back in a flag formation, going to test the 50% level (Gann Box).
Once we get a break to the upside, we might have another chance to go long again and ride it...
Bidvest price action has carved a descending triangle as price seeks a low price on a monthly time frame. Price is expected to be forced downwards with initial target of R160 area where short position can be closed or sized down. The RSI is also building negative divergence showing price is due for a drop.
Stop-loss: Price closing above the resistance line on a...
Bidvest has had a strong run. I see a Head and Shoulder pattern formed all the way from April 2019, and a possible cup and handle formed from March 2022. Both bullish formations. I will wait for a breakout and for the resistance level to change into a support, as this share has been trading in a sideways range for a long time. My first target will be R163.
Cup and Handle has formed on the daily with Bidvest. The price has broken out and we are being a bit premature to go long, but the demand pressure is strong.
7>21>200MA Bullish signal
Target R258.13
Fundamentally, with the interest rate decision to pump up the market responded mostly positively for a short term view and this is probably because of the buying...
Bidvest - Strong upside follow-through from my buy idea on 04 October. Now +15% Over 7 Weeks. Original idea attached.
Today, the group is out with a Voluntary Trading Update: Four months to 31 October 2022
The share reached a high of 21099c in early trade. This is a +1600c or +8.2% move from the level highlighted on 04 October (see attached).
Now trading at downward trend line extending back to the peak of 19 August.
For more research, including trade ideas, get in touch today.
