After a May Rally, BVT has drifted lower to form a weak looking left shoulder. On my daily chart it looks like the price has already broken the upward trend line support as well as the actual neckline. I will be looking to get short if we see a bounce towards R193.00. An extension of the recent high should see us attempt a target near R180.00.
From a momentum perspective, both the stochastic RSI and the RSI are looking weak which already implies, downside bias.
From a momentum perspective, both the stochastic RSI and the RSI are looking weak which already implies, downside bias.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.