After breaking the downward stride the hope was that an accumulation trading range (TR) was forming. However, it seems there is no buying interest in the stock with the volume drying up. Attempts to rally have been poor and formed lower lows. The TR has been broken and there could now be more downside to come.
We have been following the AVI distribution since the beginning of the year (see posts below). We are now in the markdown phase. Price has found some support at 8500 but is looking like selling pressure could push it through this level. The 200 day MA has been tested and we see an increase in volume on down bars as it pushes up against 8500. Watching for the break lower.
After breaking the reaccumulation trading range (TR) with signs of strength (SoS) we now see a smaller trading range forming which should lead to some backing up action before the markup in phase E starts. After the breakout and SoS we have had localised buying climax (BC), automatic reaction (AR) and now a secondary test (ST) of the BC completing phase A of the...
Looking at a weekly chart it seems that we are in distribution that has started in 2015. We now see volume off the tops of the Last Point of Supply (LPSY). There are Signs of Weakness (SoW) and change of character in the background. I break below the yearly pivot point which should be tested this week could result in significant declines.
Following the downward stride (See post below) Dis-Chem was testing the overbought line. Some selling volume was noticed and today there was effort and response pushing the price down.
The backup level has been tested again in Old Mutual. It seems that the markdown that we have been waiting for (see post below) could be set to start now.
The Top 40 has previously found support at the yearly pivot point. After a rally, there has been a rejection of the 200Day MA. Volume is decreasing on rallies and increasing on declines indicating the selling pressure. It does not seem that the 200Day MA will hold again.
We are in the markdown phase after redistribution as evaluated previously (see link below). Looking on the daily TF we now see that price has reached the overbought line and volume indicates a rejection of the trendline. Negative divergence on the volume RSI confirms the continuation of the downtrend.
It has taken some time for the current reaccumulation of complete (see post below). It seems that it is now complete and the markup can continue. There are signs of strength with volume behind it and negative divergence on the volume RSI.
Following the accumulation of RNI (see series of posts below) we have seen a backup and am now ready for the markup to continue. There is negative divergence on the volume RSI. Volume is increasing on advances and decreasing on declines indicating a readiness to advance. There is no volume at the bottom of the pullbacks which indicates that there is no supply left...
Using the Wyckoff Point and Figure methodology to predict potential targets of our previous analysis (see link below) there seems to be large upside potential. Using a 200 box size and 3 box reversal which is equivalent to a weekly chart we have a count of 38 bars. Therefore the potential is for a 38 x 200 x 3 = 22800 point rise. Taking it from the low 15721 we...
Following the advance (see link below) we have seen a backup and after the volume has spiked I am expecting the advance to continue.
PSG has been in a trading range (TR) since the end of 2015 that seems to be showing to be a distribution TR. We have seen a change of character with some significant declines and now after a retrace this could be a last point of supply (LPSY). We can potentially se a significant decline breaking below the TR to follow.
Watching the accumulation range of Mediclinic (see analysis below). After a sign of strength (SOS) and backup (BU) on declining volume, we now see a significant bar with some volume indicating the breakout and markup is set to start.
We have been waiting for volume to indicate the markdown is set to continue (See link to the analysis below). After a significant bar with volume I am now expecting the markdown to continue.
Following the distribution of Peregrine (See link below), we have seen two stepping stone redistributions. In the current redistribution, we have seen an upthrust with some volume. Watching for a break of the trading range (TR) for the markdown to continue.
After a strong run and buying climax towards the end of 2017 EQU has been range-bound. This long trading range (TR) looks like a reaccumulation. After some initial signs of weakness in the TR we now see increased volume on the rallies and decreased volume on the declines. We also see higher highs and price pushing up against the 2200 level. A break of this level...
Brait has been in a long-term downtrend. After a substantial redistribution in 2018, the markdown continued in 2019 with a smaller redistribution also forming. Now we have seen another range forming that has broken the downward stride of the recent markdown. Some volume on the rallies and a spring-like action has made me biased that this is a small accumulation...