JSE:FFB Fortress B Effort Without ResponseThere has been an effort to push price higher without response. The effort is seen in negative divergence on the volume RSI and in the volume. I previously interpreted (See post below) this as buying pressure but the lack of response is pointing to supply being dominant. The markdown is set to begin.
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JSE:FFB Fortress B Testing Patience There are buyers at R10 for Fortress B. After a selling climax (SC) at this level we have seen a high volume spring and now a test on lower volume than the spring indicating supply is being exhausted. I have been waiting for the markup that typically follows the spring (see posts below) but have had to be very patient. Last week we have seen a test and this could be that signal to go long.
JSE:FFB Fortress Reit Waiting for the Jump Across the CreekFortress Has been consolidating since a selling climax in March 2018 (See previous post). This consolidation looks to be an accumulation TR. We have seen a high volume spring and a test in phase C following the Wyckoff principles. I am now watching for a jump across the creek in Phase D (jump across the 200 day MA).
JSE:FFB Fortress B Markup in Phase D to Start?FFB seems to have undergone accumulation since March of 2018 and high volume today could indicate a markup in #D could start. The accumulation is noted by the low volatility low volume range. Today we have seen a high volume spring in the larger and smaller trading range (TR) that has formed.