Small Cap Technicals: Long4Life (L4L), Santova Ltd (SNV) and Balwin Properties Ltd (BWN)

Small Cap Technicals: Long4Life (L4L), Santova Ltd (SNV) and Balwin Properties Ltd (BWN)

Long4Life

After trading in an upward trend since November 2017, L4L has found resistance at the prior support level that was in place from May to September 2017. The price has broken it’s four and a half month upward trend while also failing to hold above it’s 200-day simple moving average. Over the short term the trend is down with the candle structure reflecting continuous selling pressure. Additionally, the RSI (Relative Strength Index) is trending lower, confirming the downside bias.

Santova Ltd (SNV), R2.90

MONTHLY: The price has broken below the neckline of a head and shoulder formation that has been in place since January 2015. The support level of R3.02 has been breached while the incline support in place since May 2010 was also lost in June 2017. Technically, the measured target of the neckline/support break is R2.06.

Balwin Properties Ltd (BWN), R5.90

A look at it’s weekly chart sees BWN testing it’s downward trend line resistance while simultaneously having been rejected at 640/620c, a level that was previous support from November 2015 to October 2017. At current levels, the price is attempting to regain it’s 40-week simple moving average which is trending down however may be in the early stages of a long term turnaround. In order for the share to return to a bullish trend, 630c will have to become support.

 

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