One of the charts from this morning's research note: Accompanying comment: "Tested the 25 May swing lows at 19284c (closed off the lows of the day). Weak but near oversold in the ultra short term (7-day RSI = 14). Your pivot to buy is 19510c, meaning that we want to see strong bids around this zone as confirmation for a rebound trade." Further notes on chart
JSE:BVT is at an area of value, the last time it reached a resistance area it managed to break above it. Hoping for a breakout.
A price action above 20700 supports a bullish trend direction. Crossing below this level will negate the bullish stance. Further trend support above 214.00 Consolidation price range from 21100 to 21800. Crossing above 21700 might target 22800. Crossing below 210000 will be the first sign of pending weakness. Remains above its 200-day simple moving average, also su...
Clear seller at 21950-22100c. I mentioned this level on the group on 02 June (at the 1st red arrow), which has been a range to sell into for ST cash flow. Today, we are also seeing the price slicing through the EMA's with force. Should the share break and close below 21050c, it could trade 19800-20000c. Upside risk above 22240c.
JSE:BVT is looking good for a short position. I will enter if it continues down today.
An evening star pattern formed late last week on JSE:BVT . This is a top reversal sign which means we could see a downward move. Today's price movement so far is confirming this downward turn.
Price breaking out above SR level at 22400. Tertiary trend is up. Decent spot to acquire risk here. Manage your risk
A zigzag correction has been completed on this stock and is set to rise further as wave 3 is in motion.
It seems like JSE:BVT has pulled back to the breakout level. Wait for a follow through, or pull a trigger here?
Further update Intraday, the strong move has continued, with the price now up +3000c or +15% from our level (19000c to 22000c). For more real-time insights and trade ideas, or if you're considering an alternative trading services provider, get in touch today. Original idea and 1st update attached.
BVT breaking the downtrend resistance and also making some higher lows. A break above R195 can be bullish and first target can be R200 and second target R205. Keep in mind BVT can release an earnings report soon. Trade ideas are my own and not financial advice.
An extract from this morning's pre-market client commentary: "Bidvest (BVT, 19004c) | The share printed a impressive/strong reversal candle which saw the pivot being held. I continue to highlight the descending channel in place since the peak on 18 August 2021. What we need to see now is the strong candle structure being sustained and eventually the descending...
Starting to break key support. Bearish trend is applicable below 19500. Downside price momentum supports the bearish trend direction. The price action might test its 200-day simple moving average - might act as major support. MACD bearish crossover is also applicable - see the lower panel.
- Break of last week's high R188.13 will open a long trade targeting R195.57 (TP1) and then R200.58 (TP2) - Below R180.40 breaks the weekly candle to the downside and negates the trade. Better risk/reward entries can be found intraday if your bias is to the long side with the opportunity to add when to a position once the weekly high is broken. -- MANAGE...
BVT trading in a small range between R186 and R195. Preference will be on the long side. A close above R195 can target R200. Trade ideas are my own and not financial advice.
Price has formed a bull flag setup and has found a level of support at 18600 and bounced. It would be nice to see a bounce with some higher volumes for a higher probability outcome but such as it is the LT trend is up. If you use indicators then the MACD and Stochastic have just made bullish crossovers.The trend is your friend. Always manage your risk