Attacq (ATT) is a BEE level 2 property developer that converted to a real estate investment trust (REIT) in May 2018 and has been listed on the JSE since 2013. It is the owner of the Mall of Africa in Halfway House and the developer of the Waterfall City complex. It is now building the Ellipse Waterfall residential high-rise, which will have 590 apartments priced...
The impulsive move from 656 to 915 is still valid.
The consolidation between 769 and 915 could setup a breakout move above 915 as price action action looks corrective in this range.
Aggressive stops can use 769 but the bullish outlook will be invalidated completely below 656.
This is more of a short-term play.
The advance for wave(i) is a leading diagonal.
Price has broken above a resistance level in the 800-810 range and the price action looks impulsive which is consistent with wave(iii) action.
As long as price holds above 656, any pullback will present good buying opportunity.
Large Cup and Handle formed on Attacq.
It formed the Brim Level and then the price broke out of a Breakway gap into a new uptrend
7 >21>200 0 Bullish
RSI>70 - Bullish
Target R10.64
Breakaway gap
ABOUT
Attacq Limited (Founded in 2005 in Waterfall City, Midrand) is a South African-based real estate investment trust (REIT) that focuses on the development,...
Looks like there is some speculation in the market. Attacq has been very weak but looks as if there is some buying at volume. It may be a little early but worth a shot. After a selling climax (SC) price has been making higher-highs with minor sign of strength (MSOS) on the last up push. However, I will not that the price was unable to overcome the previous high....
$JSEATT looks like the reversal of a H&S set up is well and truly underway with ATT taking out 14w (MA) of 1262. Looking to see if 1350 will halt the steady rise
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.
After breaking the trading range and retesting the breakout level the price has started the markdown. Currently, there is some consolidation but it is now testing the overbought line of the markdown. Expecting the markdown to continue once the test is completed.
Attacq has undergone distribution and broke to the downside. After a Backup (BU) to the distribution TR we can now expect the Markdown in Phase E to start. The Volume RSI during the recent BU is showing divergence.
