SteynTrade

SteynTrade

After a markup and distribution, AVI is now in the process of markdown. The markdown is set to continue with some increased volume and volatility.

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The markdown of Sappi has taken a pause but is set to continue. Some volume and negative divergence on the volume RSI points to a continuation of the downward stride.

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Brait has been marking down in a defined channel. Price has now reached the overbought line of the downward stride and some volume is seen. Negative divergence on the volume RSI also points to a continuation of the downward trend.

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After breaking out of the accumulation TR with a large jump across the creek (Wyckoff analogy) price has been unable to break back below the yearly pivot point and volume remains high. Watch for the next leg of the markup.

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Someone seems to be buying Oceana stock every time it drops below R70 since the Q1 results. Volume has remained high since then but some increased volume is again seen last week. Once the accumulation is complete we can expect prices to rise. One to watch.

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After a redistribution (see posts below). The markdown is in full swing. There has been a test of the backup (BU) TR and now the markdown is set to continue.

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BTI has undergone distribution, a backup to the TR and is busy with a markdown. Since the beginning of 2019, it looks like a redistribution TR is taking place. Now price is approaching the overbought line. There is negative divergence with the volume RSI indicating a continuation. Will be looking some supply volume to push the price further down.

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Reinet has been in a trading range (TR) around the yearly pivot point. After a sign of strength (SOS) with increasing volume and a backup to the TR on decreasing volume the stock is now being marked up out of the TR. Looking for a push to R280.

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Arrowhead Properties has still not reached the bottom and there is more pain to come. After a steady decline, a trading range (TR) formed after a selling climax (SC) in 2018 that gave some hope for a recovery but it turned out to be a redistribution TR. Volume has steadily decreased indicating no interest in the stock. After a break of the climax low and a backup...

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Alexander Forbes has backed up (BU) into the previous trading range (TR) but we see that volume is very low. It looks as if there is no supply left. Priced has moved back to the yearly pivot point (red line) where it previously found supply (at R2.60, see volume profile) but this time there is no supply. Watching next week if supply comes in or if we will see the...

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Telkom has been in a strong uptrend but after a buying climax (BC) on high volume and automatic reaction (AR) we have set the bounds for a trading range (TR). As it develops further we will be able to see if it a re-accumulation or distribution.

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There are buyers at R10 for Fortress B. After a selling climax (SC) at this level we have seen a high volume spring and now a test on lower volume than the spring indicating supply is being exhausted. I have been waiting for the markup that typically follows the spring (see posts below) but have had to be very patient. Last week we have seen a test and this could...

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Although RDI Reit has been in an overall downtrend on the weekly we are potentially seeing an accumulation range that has formed that should result in a backtest on the larger TF. We have gone through the Wyckoff Phases and potentially are seeing a last point of support (LPS) after some signs of strength (SOS). Some but not very high volume on up bars could point...

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Attacq has been in a markdown as discussed in previous posts (see link below). Some stopping volume has entered indicating a possible selling climax (SC) with an automatic rally (AR). We can now expect a test of the selling climax and a trading range (TR) to form.

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Anglo has been trading in a well defined upward stride. After reaching the oversold line and yearly pivot point we have seen buyers step in as indicated by the increase in volume. There is also negative divergence with the volume RSI pointing to a continuation. Looking for the upward stride to continue.

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In a week market, NEPI has been holding up and trading in a narrow range near the top of the TR. With a rally in the market, NRP now looks like taking the next step higher to the yearly pivot point and to of the upthrusts (UT) during the TR. Looking for a break of this for a nice upside move.

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The Top 40 is seeing some buying at the yearly pivot point. The volume has increased and it looks as like there will be a rally but probably within the trading range defined by the yearly pivot point and recent highs.

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Today we have seen a high volume bar with a small range indicating effort without response. Some demand has entered the market and a rally is possibly on the cards this week.