Since 2017 the Satrix TOP40 ETF has been moving in a channel with a downward slope. We have reached the top of that channel once again. The channel has only been breached twice in the three year period. The obvious assumption would be to believe that it will keep trading in the channel into the foreseeable future. Personally I think better ETF's with more foreign...
- Price has dropped below the kumo monthly support extending all the way back to 2008-2009
- Stochastic is still not overdone and the near dbl top targets the R35 area
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Disclaimer: All ideas are my opinion and should not be taken as financial advice.
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based...