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JSE:DCP Dis-Chem Range within a Range

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DIS-CHEM PHARMACIES LTD (JSE:DCP)  
SteynTrade Uppdaterad   
JSE:DCP   DIS-CHEM PHARMACIES LTD
Support and Resistance Supply and Demand Volume jse jsedcp wyckoff Volume Indicator
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supportandresistance supplyanddemand volumestudies jse jsedcp wyckoff volume
Dis-Chem has started a long term and large Trading Range in June 2018. The range boundaries have been set in Phase A between R24 and R35. After a Selling Climax (SC) and Automatic Rally (AR) we have now seen a Secondary Test (ST) of the SC lows. A small TR has now formed at this support and we have seen a Spring. We are now expecting a markup out of the small TR and mark up to the highs of the larger TR at R35.
Kommentera:
It has taken some time but Dis-Chem is now breaking out.
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Kommentera:
For now, it is holding above the smaller TR with negative divergence on the volume RSI indicating an effort to push the price down without response. This indicates a likely continuation.
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Kommentera:
Still targeting the top of the TR.
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