Head and Shoulders formed on the Daily.
The price has clearly struck below the neckline showing it wants to come down.
Aggressive traders would take full advantage here but conservative traders will wait for the price to go back up and retest the resistance before the fall.
21>7
Price<200
RSI<50
R118.00
W Formation formed on the daily.
We have had a recent breakout and it's been a weird one.
Due to the illiquid nature of the share, the wicks are quite large.
So I've incorporated both wicks and bodies to the W Formation in this case.
Other signals point upside:
7>21>200
RSI>50
Target 1 will be to R20.54
ABOUT THE COMPANY
Bell Equipment is a South African...
