Kap Industrials has undergone distribution and is now in the markdown phase. After a buying climax (BC) in April 2017 we have seen a distribution trading range (TR) and currently, it is in the markdown phase. There is high volume selling as large interests are getting rid of the stock on the way down.
Dis-Chem has been following a downward trend channel. It is currently at the overbought line which is also a backup to the previous breakout level. With some volume in the rejection of 2400 level Dis-Chem is set to continue the downward stride.
Clicks has been in a reaccumulation trading range (TR) and broke out of the range (Jumped the creek) today. Watching for a retest of the range (Backup (BU)) to go long.
ABInbev has been trading in defined upward channel. After testing the overbought line we have seen a significant bar indicating the upward stride should continue.
After a decline, Cashbuild has undergone a redistribution trading range (TR). After some last points of supply (LPSY) we have seen negative divergence on the volume RSI and a break of the TR. This indicates the potential start of phase E of the redistribution.
Following the larger distribution trading range (TR) of Growthpoint (See link below) in Wyckoff speak we are falling through the ice. This the markdown in Phase D taking place. We are now looking for a break of the trading range (TR), a backup (BU) and then the markdown to start in Phase E is expected to start.
Following the accumulation of RDI Reit (see post below), according to Wyckoff logic, we have broken the trading range (TR) and had a backup. The markup in Phase E is starting and targeting the 2300 level.
Nedbank has been steadily increasing but after breaking the upward stride and breaking below the key 25000 level it seems that there is some distribution taking place. In the distribution, we see increasing volume on the declines and decreasing volume on the increases. Volume spikes are at the peaks. Looking for some markdown to take place.
Since the beginning of 2018, there has been a clear shift in the investment focus of large institutions. The relative strength against the Top40 shows a relative outperformance of resources and underperformance of the industrial sector. It looks likely that this trend will continue. Up until the end of 2015, the trends were reversed.
Anglo American has been trading in a strong upward trend. After testing the oversold line with volume and negative divergence on the volume RSI we have seen a continuation of the stride. After a small correction, some volume indicates that the upward momentum should continue.
After redistribution and a backup (BU) to the trading range (TR). We have seen some supply volume and a strong move down indicating the markdown is gaining momentum.
After a sharp drop, Old Mutual has been undergoing redistribution. We have now seen all the Wyckoff Phases and a backup (BU) after the breakout to the trading range (TR). So base on the Wyckoff theory the markdown in Phase E is set to start. Watch for a strong downward trend. I had previously analysed this as an accumulation range (see posts below) because it...
RMI has undergone distribution and is now in the markdown phase (see posts following distribution below). The expectation is for the markdown to continue after the recent correction.
Mondi has been undergoing distribution with an upsloping trading range (TR). After a backup to the TR we now see high volume and increased volatility to the downside indicating increased selling. This is also pushing against an important level of 29000. If this breaks we can see a significant markdown.
Mr Price looked like continuing the decline (see posts below) but high volume is indicating demand as price approaches 15000. This indicates that there will be sideways action and the decline will be on hold.
Life Healthcare has been trading in a downtrend. After a redistribution and backup to the trading range, the expectation was for a continuation (See posts below). It has taken some time but with some volume, it seems LHC is only now ready to be marked down further.
Bidvest has been drifting lower and testing support at 7500 with what looks like a downsloping distribution. Supply has stepped in with some volume. Negative divergence looks like the support will be tested again.
Bid Corp has started an upward trend. After a small re-accumulation and some volume, the trend is set to continue. Negative divergence on the volume RSI also points toward a continuation.