JSE:PFG Pioneer Foods Showing StrengthAfter breaking out of the accumulation TR with a large jump across the creek (Wyckoff analogy) price has been unable to break back below the yearly pivot point and volume remains high. Watch for the next leg of the markup.
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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.
