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RossLarter

BIDVEST - Upward Channel with Upward Momentum

Long
BIDVEST LTD (JSE:BVT)  
RossLarter  
JSE:BVT   BIDVEST LTD
Trend Analysis Support and Resistance Parallel Channel jse ALSI ZAR southafrica bidvest
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trendanalysis supportandresistance parallelchannel jse alsi zar southafrica bidvest
BVT has been trading in a nice upward channel since November last year. It is currently trading just below the middle of the channel and seems to be on its way up. It is also showing some good signs of upward momentum based on the stochastic, MACD and the two EMAs that are crossing based on today's price action so far. If the momentum continues, I think we could see a move up to the top of the channel which also coincides with the strong resistance level at around the 22000 level.
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