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Bidvest – Tactical Trading Levels – UnumCapital
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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.

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