There has been a change of character (CoC) with two of the largest delining pushes since the uptrend started. Price has broken the upward stride. Volume is higher during the downward pushes and delines on the rallies. Currently, the Volume RSI is oversold and the price has reached the bottom of the trading range. So we can expect a pause before the markdown begins...
The current reaccumulation in Datatec has taken some time (See posts below) but potentially we are now ready to continue the markup. We have seen a decline in the volume during the reaccumulation indicating the adsorption of the stock. Divergence on the Volume RSI indicates the upward pressure. Now looking for a clear break higher for the markup to continue.
We have had to wait but the backup to the trading range seems complete (See previous posts). After an accumulation range and breakout, we have now had a smaller reaccumulation range with a backup to the larger accumulation range. A spring-like action with volume seems to indicate Clicks is ready for the markup to start. With the volume entering, we are expecting...
Following the distribution of the industrial index (See posts below) on the JSE after last week we are now starting the markdown. Volatility has increased and volume has declined which indicates no buying interest. A test of the bottom of the trading range should now take place and we can then look for the signs of a break below the trading range to start phase E.
This week has seen the largest down bar. Volatility to the downside has been increasing since 2015 and the clear change in character (CoC) last week could indicate a lot more downside to come. We have been following what has been looking like distribution for some time and this move could be the markdown in phase D. After a possible pause at the bottom of the...
The markdown in Phase D of the distribution of PSG stock is gaining momentum. We have analysed the distribution structure in the posts below but it is now playing out to test the bottom of the trading range.
Sasol is looking week. Price was unable to get back to the breakout level and after an upthrust (UT) and lower volume test price has pushed down to the previous low. Now it looks like the next markdown is about to start with some volume.
After testing the yearly pivot point the resources index is continuing with the upward trend. Negative divergence and some volume in the market indicates that there were buyers buying into weakness during the test.
After some significant supply (Volume increase) we have had the break lower as expected (See post below). Now we follow the markdown.
After an accumulation trading range, Quilter is being marked up in a defined upward stride. Price has now reached the overbought line and it is time for a pullback. Volume has climaxed and it is possible that this could be the start of another trading range.
Massmart has seen high volume from buyers pushing price up. After a short accumulation range price is now being marked up. Price has broken the 200 day sma. The relative strength has turned up and there is negative divergence on the volume RSI indicating effort without response.
Reinet has been undergoing markup after accumulation (See posts below). Now price has reached the overbought line of the upward stride and it is time for a pause.
PSG has been undergoing distribution (See posts below). After a last point of supply (LPSY) we are now seeing a continuation of the markdown in Phase D. Volume is increasing on declines and last week we have seen volume increase after a pullback to previous support. The relative strength against the Top 40 is also declining.
After distribution and a backup (BU) to the trading range the markdown of Nedbank started. After the breakout of the BU trading range we now have a retest. Volume increases on the declines and negative divergence on the volume RSI there is some momentum pushing price down. The relative strength is declining and NED is weaker than the market.
After a selling climax (SC) in March 2019 Aspen has been undergoing accumulation. A spring occurred in August and the markup in Phase D after that. Increases in volume on rising prices indicate buying. Volume and volatility has been muted indicating the stock is being held by strong hands. After a backup (BU) at the breakout level and yearly pivot point some...
After a downtrend and selling climax (SC) Astral Food has been in a trading range for most of 2019. This looks like an accumulation trading range. There has been signs of strength (SOS) with an upthrust in May and markup in Phase D in November/December. After a backup (BU) on decreasing volume back to the yearly pivot point some volume is pushing price up. This...
After the backup (BU) to the redistribution trading range Cashbuild is starting with the markdown.
Growthpoint has been undergoing distribution since 2013. After an upthrust after distribution (UTAD) and last point of supply (LPSY) the trading range has now been broken and the markdown is gaining momentum. (See posts below following the markdowns start)