Quilter @ strong resistanceJSE:QLT seems to be currently bouncing off of a very strong resistance where it has not broken through numerous times. If it fails to break through again this time, I will consider a short position on it's way down.
Quilter
QLT - Dark Cloud Cover at a Resistance LevelA dark cloud cover pattern has formed on JSE:QLT . This is a bearish reversal pattern and if it trades lower than the open of today, it could be looking good for a short position down to the 200MA or further down to around the 2750 level.
QUILTER possibly on the riseJSE:QLT is showing signs of an upward move. There was a massive engulfing candle a few days ago and the stochastic and MACD are confirming upward momentum. If it break higher and the EMA's cross, I will consider a long position.
QLT making a turnaroundJSE:QLT has been in a bear trend since mid August and seems like it is making a turn. We could be looking at a move all the way up to the 3350 area if it breaks through the resistance around the 3000 level.
