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Volume Indicator

JSE:IMP Impala in Wide Trading RangeImpala has been weaker than the other sector stocks (Platinum & Precious Metals Index (J153)), for some time (see Comparative Relative Strength). However, recently the stock has shown strength and is the strongest stock in the sector. After a Selling Climax (SC) and Automatic Rally (AR) in 2016 there has been significant selling pressure (OBV) but price has not been able to break the SC lows. After a smaller Trading Range (TR), break out and backup (Flag on daily) we are potentially going to see a markup to the top of the TR at around 7000. However, the first target to watch is the Yearly Pivot Point which is also the Preliminary Support (PS) level at 4000 (Completion of the flag). There is some space in the TR for longer term trades.
JSE:IMPLong
by SteynTrade
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.
PLong
by SteynTrade
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:DSYLong
by SteynTrade
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.
JSE:ABGLong
by SteynTrade
2
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!
Long
by ForAllCrypto
1