Price Volume ActionThe chart explains how we can read a trend breakout and price volume action which can be very helpful in identifying momentum.
Volume Indicator
JSE:PFG Pioneer Foods High Volume Change in CharacterPFG had a high volume reaction to the long term oversold trend line last week which is continuing this week with a bullish reaction. This indicates that demand has increased and the lower TF trading range that has developed is possibly and accumulation range. However, the TR is potentially not complete. On the daily this reaction on high volume is possibly only a test in Phase B. Because of the high volume I expect another test of supply before the mark up starts. But it looks like there is interest in the stock and we can start looking for good entry points.
JSE:ARL Down Trend ContinuesAstral Foods has been in a downtrend since July 2018. It has reached the supply line with some volume and seems to be continuing the downtrend.
JSE:GRT Growthpoint Distribution Complete?Growthpoint has been in a trading range since 2013. After a good uptrend, there was a throw over of the upward stride and a climax formed. The volatility to the downside has increased and Signs of Weakness (SoW) can be seen. Now after an Upthrust after Distribution (UTAD) and a test we have now seen a Last Point of Supply (LPSY). Looking for a high volatility breakout to the downside for the markdown to begin.
JSE:INP JSE:INL Investec Waiting for MarkupInvestec has formed a Trading Range (TR) after Preliminary Support (PS), Selling Climax (SC), Automatic Rally (AR) and Secondary Test (ST). There has been low absorption volume in Phase B and we have now seen a spring and test in Phase C. After the test is done we can expect a markup in the TR in Phase D to the top of the TR.
JSE:DSY Discovery Spring or Test in Phase BAfter a Selling Climax (SC), Automatic Rally (AR) and Secondary Test (ST) in Phase A we have now seen the bottom of the range being tested a second time. This looks a lot like a potential spring in Phase C but we have not seen a good contraction in volume in Phase B so this still could just be a test of the TR. However, the result should be the same with a test of the top of the TR. We have seen a significant bar confirming the reversal.
JSE:ABG Absa Bank Ready for a Markup?Absa Bank is looking strong even as the Rand and the JSE are looking weaker. Absa's pears in the Banking Sector are also looking weaker. Absa's relative strength to the Banking Sector is improving. There are a number of indications that Absa is going to buck the trend. The location in the accumulation structure is at a good place to go long. We have seen an accumulation trading range (TR) with a Selling Climax (SC), Automatic Rally (AR), Secondary Test (ST), A Spring, Last Point of Support (LPS) and now a Backup (BU) to the TR. An upward channel has formed and it is now testing the lower trend line which is also the 50 MA and the Yearly Pivot Point. Further, there is a negative divergence with the volume RSI which is a good continuation signal. Volume is increasing on up moves and decreasing on down moves. We need to watch how it reacts this week to the lower trend line and top of the TR to confirm if we are going to get a markup.
BTCUSD, short to 3802 after accumulation in chanel 3902 - 4000.BTCUSD, short to 3802 after accumulation in chanel 3902 - 4000. Levels by x-lines indicator. Volume analysis by x-volume.
ICX LongICX has seen a huge increase in buying volume over the last months. This volume looks like the biggest we have seen thusfar. This is the reason why we are opening a long position. The big volume does in our opinion not correspond with yesterday's spike and we will probably see a small correction before the next wave up. Please be advised that this is not financial advice, this is just our vision that we would like to share with you guys!
Targets are stated using the fibonacci retracement.
Exchange: Binance
Entry: 680-720
Target 1: 890 (RR-Ratio: 3.1)
Target 2: 990 (RR-Ratio 4.77)
SL: Below 645
RR-ratio: 3.1
If you like the analyses please dont forget to give a like it helps us a lot!
JSE:BVT Bidvest DistributionBidvest has broken the ascending stride and retested it. There is negative divergence indicating a continuation of the new downward trend. The smaller trading range (TR) on the daily also indicates that this is distribution and we can expect a test to the recent lows and possibly the demand line of the descending stride.
JSE:SLM Sanlam Back to Test the Bottom of the Trading RangeSanlam has formed a trading range (TR) with a selling climax (SC), automatic rally (AR) and secondary test (ST) of the SC. After this, the stock has moved into Phase B and upthrust (UT) testing the top of the TR. With contracting volume, a drop to test the SC in phase B can be expected. This could see a decline to test R70 or R65 before continuing the TR.
Ready to longReady to long after a nice correction as shown in M30....Objectives for today #1 1.1400, and #2 wait to 1.142500
AION/BTC (Bought a bag) LONG/SWINGSimple Crypto Strategy: Find Accumulation...Buy the All Time Low...Sell the Top.
JSE:KIO Kumba Being DistributedThe resources sector has been strong but Kumba has been a laggard in the sector. The Trading Range (TR) that was formed seems to have the characteristics of distribution with increased volatility. The volatility to the downside is seen by increased spreads, gaps and increase volume. Pullbacks have been on lower volume. After the recent pullback, Kumba is ready to be marked down out of the TR.
NZDJPY Sell signalWith the previous support broke we wait for the second support level to be broken and then entering into a sell. the moment we see wicks on the bottom side of the candlesticks and a low volume.
JSE:AFH Alexander Forbes AccumulationAlexander Forbes has been in a trading range which seems to be accumulation. Volume increases at the bottom of the range and divergence of the volume RSI show upward pressure (Effort without response). We have seen a Sign of Strength (SoS) and Change of Character (CoC) after a spring and currently a low volume test has occurred.
JSE:NED Nedbank Re-accumulationNedbank has been in an upward slanting re-accumulation range over the festive season. With some volume returning we see a continuation of the move to the top of the channel. There is some negative divergence in the Volume RSI and a good momentum bar on Friday.
JSE:RMI Rand Merchant Investments Markdown to start?Last year I followed the distribution pattern on RMI (See post below) which now seems to be completing. Price had found support at the at the bottom of the Trading Range (TR) but was unable to rally back the top of the TR. After some consolidation, we see a change of character bar (Significant reversal bar). RMI could now be ready to break out and start the markdown.
JSE:PSG Markup StartingPSG was in an accumulation TR and is currently breaking out. After a last point of support (LPS) and back up (BU) to the TR we now see a break out with some volume indicating the markup has started.
JSE:SAP: Sappi is Being DistributedSAP has been in a trading range after a Buying Climax (BC) in May 2017. It looks like a Wyckoff Distribution is taking place. There is increased volatility and volume on the declines and low volume on the up moves. The declines has been larger and quicker than any of the declines in the uptrend leading to the BC . Increase volume is seen mostly at the top of the trading range. We could already be in the mark down in Phase D but will have to see how the range develops further. If this is Phase D we should see the start of the mark down soon.
JSE:J200 Top40 at the Top of the 'Trading RangeOn the daily timeframe (TF) following the Wyckoff logic, there was a change of character that formed a Trading Range (TR) with the Selling Climax (SC) and Automatic Rally (AR). This is at the bottom of a larger TR on the weekly TF (See post below). After a Secondary Test (ST) of the lows, the price is testing the top of the TR again. This is also the 2019 Yearly Pivot Point and 200Day MA. We are now in Phase B and expect a contraction in volume and a test of the lows in Phase B before we can look for Phase C and a move out of the range. Negative divergence on the TDI (RSI) also indicates a possible move down.
JSE:J200 Top 40 Approaching Resistance After a Change of Character (CoC) and major Sign of Weakness (SoW) the JSE Top 40 has been seen the start of a smaller trading range (TR). Price is now approaching the top of the TR (Round number 49000) with confluence with the 200 Day SMA and the 2019 Yearly Pivot Point. The Rally is seen on lower volume than the decline and negative divergence with the RSI. Looking for a reaction to confirm a move to the bottom of the TR in the week to come.
