All 3 momentum indicators have crossed on JSE:BID - looking good for a long position.
Bid Corp (31958c) - Potential re-entry. 3 Technical Factors Required To Set Up A Swing Buy/Long. 1. Needs to hold incline support with strong candle structure. 2. Clear and hold R320. 3. Clear the downward trend line extending back to the peak of 34399c on 19 October. Temporary failure below 31470c
Attempting to break resistance for a possible move higher! JP Morgan calling it a 385 stock this morning.
a move higher on bid corp on the break of the box rang to the upside
- Chart is setting up a bull flag on the daily and is in a constructive uptrend - Looking for a move to test the swing high and a possible breakout to the upside -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
An extract from my research note for Monday, 26 July. Bid Corp (BID, 31702c)| At the top of last week we highlighted the 50-day EMA as a provisional buying zone, which was tested and held for 1300c upside (Monday through Thursday). As the price continues to recover, we think the 31989-32321c (the 50/61.8% FIB) level offers an area to re-sell on the expectation...
Did you manage to get your hands on some BID Corp? My pre-market plan (published on Sunday 18/07) highlighted BID as a buy at the 50-EMA, with comment as follows: Bid Corp (BID, 31833c) | Coming into last week we considered the potential for an overshoot followed by a retracement. The share has since retraced moderately, with the 8-EMA losing upside momentum...
With today's price action so far, JSE:BID seems to be showing some good downward momentum. Based off of the EMA's crossing today as well as the stochastic and MACD moving downwards it looks like a downward move is on the cards. I predict that it could move down to the 28000 support level which would coincide with the support level around the 200SMA.
Provisional plan going into next week. The share has surpassed our buy/long target range of 31200c to 32000c from the suggested entry of 29300c, having tested it's highest level since February 2020. While the price remains in an active sequence above a rising 8 and 21 day EMA, the 7-day RSI is strong but nearing 'near overbought' territory. Having advanced from...
Today, BID traded 63c shy of our full target of 32000c from the original suggested entry of 29396. On 25 June I recommended taking 50% of profits while today traders should be looking to bank the balance. Well done to those who caught this one. Let's find the next one.
BID is now higher by over 2100c, from 29396 to 31568c and has entered our target range of 31200c-32000c Traders can look to reduce their position by 50% and scale out further at higher levels. Original (Short Term) Idea Attached, See Related.
*Extract: Research Report, 31/05 - 04/06* "BID is attempting the reclaim the neckline of the multi-month inverse head and shoulder technical formation where a close above 29700c opens up 31200c to 32000c. Stop: 28800c Alternatively, the risk is that the 14-month incline is breached." Update: Also note the smaller cup & handle formation as well as the current...
Bear flag broke as anticipated, measured target around 250; there is 200dma to clear on the way though!
BID flagging for a move lower? Measured target is 250 should the flag break.
We have a nice ascending triangle pattern on Bidcorp. As the stock is looking to break into a higher box. I’m waiting for a break and close above 29890c then I will take the trade with a stop loss around 27200c level
JSE-BID: Bear flag break confirmed yesterday with a close below 28620 If the pattern plays out fully, I am looking at 24281 as TP
BID has made a big pullback towards its H&S neckline at R288. A sideways consolidation or a break above R290 will trigger a long idea with R315 as target. Below R275 all bets are off and BID would be back into its big sideways range.