Bidvest – Tactical Trading Levels – UnumCapital
post-template-default,single,single-post,postid-13558,single-format-standard,eltd-core-1.2.1,tribe-no-js,flow-ver-1.6.3,,eltd-smooth-page-transitions,ajax,eltd-blog-installed,page-template-blog-standard,eltd-header-standard,eltd-fixed-on-scroll,eltd-default-mobile-header,eltd-sticky-up-mobile-header,eltd-dropdown-default,wpb-js-composer js-comp-ver-6.0.5,vc_responsive,elementor-default

Bidvest – Tactical Trading Levels

Bidvest – Tactical Trading Levels

Bidvest (BVT) | A review of the daily chart sees the price having failed to make a meaningful recovery with the overall market, with the share being range-bound and the candle structure indicative of selling pressure. The current technical formation also sees a pennant continuation pattern building of which a break of the incline support going back to the 24-March lows would see the bear trend continue. From a short term tactical trading perspective, the lows (using 12926c as a level near the exact bottom) could be used as an accumulation zone. Zooming out, we also see the 148-150 zone as a level of interest where prior support is now looking to turn to resistance.

Lester Davids

Lester joined Unum Capital in July 2016 and is a Trading Desk Analyst focusing on local (JSE) and global multi-asset class technical strategy and research which includes idea generation.

No Comments

Post a Comment