Today there was a significant bar in Curro Holdings with volume. A spring-like action from the yearly pivot point also forms a backup to the breakout of the accumulation trading range. Now we are expecting a quick markup to around R16. This confirms the previous evaluation provided in the post below.
After the covid low, Curro Holdings has had a good recovery. The in the trading range formed after the selling climax (SC) and automatic rally (AR) price has been making last points of supply (LPS). After the breakout of the trading range we can expect a markup to around R16.
- Curro Holdings has formed a decent support around the R7.40 area
- A daily close above R8.50 will open the door to further gains. I will look for an entry on any weakness with a stop-loss below the support zone.
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Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Curro has been in a markdown for some time (see previous post below). We now see some buying volume stoping the decline. Following the Wyckoff theory, the selling climax (SC) indicates the start of a trading range (TR). This could be another stepping stone in the markdown or is it the start of an accumulation TR. But for now, we can expect the stock to be...
NB this is not TA. Merely my novice opinion of what I see.
It seems that JSE:COH is busy printing an inverse H&S bottom formation. Both RSI and MACD has positive divergence and RSI shows quite a bit of room to the upside. Should price action break the resistance of the downward channel, fulfill the inverse H&S formation, and bounce off the current downward...
Curro Holdings have been in a downward trend and declining in steps. There has been an effort to push the price up but without response. We see this through the hidden divergence with the Volume RSI. Price has again reached the bottom of the previous step and has been rejected again indicating the markdown continues.