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.
After a trend line break this one has moved down to test the breakout. Stop loss will initiate if the test fails and it breaks back below the trend line.
Another attempt at breaking the downtrend. If momentum can keep the price above (2600) the downtrend line, then a future first target could be around 2900.
