Mr Price has been in a lingering downtrend channel since March 2022.
It's been a trading haven for range bounded traders who look for this kind of activity.
However for a breakout trader, it's been a waiting game.
So best we buy at the bottom of the range sell at the top and repeat.
Right now the price is heading back to R153.25.
If we get a breakout, we'll...
Break above downtrend has occurred for the first time since 2022...
This isn't a breakout pattern that I normally look at, but it's still a breakout move.
Price<200MA (elastic) This means, the price has a likelihood of moving up to the 200MA (Equilibrium) to take out the inefficiency.
Target R177.42
BREAKAWAY GAP formed in December, and since then the price has...
After a redistribution (see posts below). The markdown is in full swing. There has been a test of the backup (BU) TR and now the markdown is set to continue.
Since August last year, Mr Price continually found support at R205. In March, the stock broke through support but recovered back to R224.54 in May.
This is a currency sensitive share and the rand blowout has now pulled the price back through the previous support. The current downtrend is gaining momentum and making me very pessimistic.
The MACD is also trading...
We have a Bearish Engulfing on JSE:MRP which was formed yesterday. This could mean a possible trend reversal from the short term up trend.
I have entered a short trade at this morning's opening.
Mr Price has had a mixed year so far. In January, it dropped a massive -16.69% in one day falling from R259.14 to R215.24. It then spent the next two months trading a range between R205.00 and R225.00 before finally dropping to R180.00.
Since then, the stock has discovered some bullish vigor, running all the way up to R221.82. The MACD also broke above the the...
Last month (see link below) I was looking at the trading range as redistribution. The pullback was all the way to the resistance line of the trading range forming a Last Point of Supply (LPSY). There has been divergence with the Volume RSI first with a positive divergence with the Upthrust after Distribution (UTAD) and now negative divergence with the UTAD and the...
