Fortress REIT Limited, trading on the Johannesburg Stock Exchange (JSE) under the tickers FFA and FFB, represents a significant entity within the real estate investment trust sector. The trust manages a diverse portfolio that not only encompasses direct property holdings valued at around R30 billion, focusing on logistics, offices, and commuter retail sectors but...
There has been an effort to push price higher without response. The effort is seen in negative divergence on the volume RSI and in the volume. I previously interpreted (See post below) this as buying pressure but the lack of response is pointing to supply being dominant. The markdown is set to begin.
There are buyers at R10 for Fortress B. After a selling climax (SC) at this level we have seen a high volume spring and now a test on lower volume than the spring indicating supply is being exhausted. I have been waiting for the markup that typically follows the spring (see posts below) but have had to be very patient. Last week we have seen a test and this could...
Fortress Has been consolidating since a selling climax in March 2018 (See previous post). This consolidation looks to be an accumulation TR. We have seen a high volume spring and a test in phase C following the Wyckoff principles. I am now watching for a jump across the creek in Phase D (jump across the 200 day MA).
FFB seems to have undergone accumulation since March of 2018 and high volume today could indicate a markup in #D could start. The accumulation is noted by the low volatility low volume range. Today we have seen a high volume spring in the larger and smaller trading range (TR) that has formed.
