BVT trade ideas
Long idea on $BVT$BVT closed below the weekly EMA200 and subsequently priced moved back to breach the EMA200 and close above it. There is a clear level @17290 which has acted as prior support and resistance. Price will have to close above 18370 for a sustained move higher or risks being range bound.
Bidvest longJSE:BVT is showing signs of an upward move after a successful short position. Link below. Based off of the momentum indicators, we could be seeing a move to the upside. I would keep an eye on the trendline that it broke through recently as it might cause some resistance if it reaches that level.
BVT Short if trendline is brokenAlthough the stochastic, MACD and moving averages are all showing signals to go short on JSE:BVT , I am inclined to wait for confirmation of the break of the upward trend before entering a trade.
Bidvest Retest of Breakout Zone and Possible Cup and HandleBidvest seems to be testing the breakout zone in the 170-172 area and might be forming a cup and handle formation.
I am nibbling long here and should the price be able to push above 176 my first upside target will be 182. If 182 can be overcome the full target would be 195.
Will use a tight stop of daily close below 167.
$JSEBVT Bidvest Stuck in a channel for nowBidvest seems to be stuck in a channel between 13000 and 17100. It looks like a bull flag is developing within that channel. Watch for a break of the flag pattern and then a break of the 17100 level. Once that 17100 level is breached and momentum can keep it above that level, a 18600 target is possible. Wait for the break of 17100 . No position.
JSE:BVT Bidvest Fails to Break Previous ResistanceBidvest tried to push above the previous resistance at R175 but failed on lower volume. This indicates an upthrust (UT) after distribution and opens the path for the markdown in Phase D to start. We are now looking for a break below the bottom of the trading range at R130 to open the path for a markdown in Phase E to even lower prices.
Breakout after golden crossBidvest
We have a golden cross on the share. The share has been in a trading range since April. The R132.50 has been a strong support level. If we get a 3% break and close below R128.50 level. We could potentially see some further weakness in the share.
Weekly game plan: villagetrader.co.za
BIDVEST - LONG Idea- Todays pullback is giving an opportunity to go long
- Targets and Stoploss on the chart
MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JSE:BVT
BVT range brokenBVT been trading last few sessions in a small range. Also raised by RenCap PT 161. I am looking for a move to R150.
BVTBidvest Group (BVT) | The group is due to report it's full year earnings on Monday 14 September expectations - as per Reuters - are for Earnings Per Share of R10.71, a 20.55% decline YoY, placing the share on a price/earnings ratio of 12.4x (as at Friday's closing price of 133.83) should expectations be met. At the group's trading update for the ten months to 30 April, it stated the following: "Bidvest shareholders were informed at the time of the release of the Group’s interim results (2 March 2020), that trading conditions were challenging due to low business confidence in South Africa, constrained consumer demand and an overall weak economic environment. The COVID-19 pandemic has resulted in the economic and social environment becoming more demanding and uncertain, and has created significant operational disruptions, both on the demand and supply side of our economy. The impact on Bidvest’s trading businesses is significant and the services businesses are also being disrupted." These comments are reflective of business conditions before the official national lockdown commenced on 26 March. On the chart: Since late March, the share has found support near it's multi-year lows of ~R128-R132. A close below 130.50 on a weekly basis opens up R110 - R112 as a target range. The weekly chart accumulation and distribution indicator is trending lower while the RSI is in a bearish regime.
Head & Shoulders Reverse PatternJSE:BVT
We have a Head and shoulders pattern on the Bidvest chart.
Looking to long the stock the break of the neckline at around R144 with the stop just above the right shoulder.
Target is the R159 (The height of the head)
BIDVEST - Fake breakout- After breaking support around R138 level, price has comeback strongly and suggests a continued move the other way
- Been quite a wild share to trade but i think it will benefit well with COVID regulations easing the a recovery in the general sector
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
BVT - Inverse H&S long ideaInverted H&S on the hourly signals a long trade if it closes above R142. Full target is R154. Stop loss is a close below R138, then trend continues downwards.
BVT (1H) - ShortInverted H&S on the hourly signals a long trade if it closes above R142. Full target is R154. Stop loss is a close below R138, then trend continues downwards.
BVT - Close of R135 triggers short ideaBVT has managed to close below R135 for the first since July 2016 and during this lockdown has managed to hold above however it closed below the level on Friday and has triggered the short idea. First target at R126 and second target R118.
BIDVEST - Long Idea- Price has formed a nice base, initial breakout has come to test support, potential double bottom in play...
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
$JSEBVT - Up against resistanceBidvest currently facing some horizontal resistance (previous support). Bullish on a close above R172. Alternatively could see a reversal to the downside short term - Market has rallied nicely and a pullback possibly due. We wait for confirmation.
