Signs of support developing .... Tencent does it again!

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Derek  16 Nov 2017

Morning,

International:
Although the US was still negative, I notice a doji at the Nasdaq and the DAX made a very long leg doji. This is first signs of support?

The East is all positive this morning and guess where ASX bounced .... on the break line that acts as support now. (Previous resistance become support).



Advance Micro Devices is busy forming a double bottom in the current correction. The trend line is not broken yet.



JSE Technical:
Tencent does it again to report a gain of 61% in sales for the 3rd quarter. This is better than expected and thus send Naspers rising while the rest of the market was correcting. Naspers has now moved into 3rd position of the best trending shares on the JSE.



Another share that moved against gravity was DISCOVERY. It smashed top resistance with a 3.03% gain.



When shares move so strongly against the overall trend .... it is a must for your portfolio for the long term!
Enjoy your day.

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