Because we had a close above local highs on 13th October, the probability of price coming back to its origin and popping off from there is fairly high. We might have already tested this level now for continuation but I'd like a little lower. Since we can't tell the future we take trades that have higher probability than normal using price action, so its worth the risk.
Stochastic 5 overbought and ATR showing sell signal in long term downward trend. Brait has also been infected by Covid it seems.
Brait was hit hard by COVID news and has been stuck in a channel for months now. That channel range is 258c to 429c. Keep an eye on the upper 430c level for a possible breakout in future. A breakout will open 600c as a possible target. No position.
$JSEBAT Nice pullback here, if it can break R4.15 this can go!
$JSEBAT 20% up on Monday, with no news a lot of volume buying.
After the selling climax in March, we have potentially seen an accumulation trading range that is ready to break and start the markup. Price is wedged between the 50 and 200SMA and contracting. There is a negative divergence in the Volume RSI. The Relative Strength to the Top40 is showing an increase and is above the 55SMA. There is volume in the up moves and...
$JSEBAT its nearly reaching the 200 SMA
$JSEBAT is moving up nicely to the 200 SMA line
Like the long here. Key resistance has been broken and some directors have been buying.
Brait (BAT) | On Friday the share closed above a 3-week pivot after having advanced in the prior 4 sessions on rising volume. Our preferred short and medium term moving averages having been cleared over the period which raises the potential for a short term advance from current levels or slightly lower toward the 355-360c level.
Update on $JSEBAT still looking positive after the gyms opening.
Good news for $JSEBAT up above 7%, gyms are reopening tomorrow.