Strong run .... Flat head candles

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Derek  21 Nov 2017


We are busy with a very strong run with all indices working together positively.

I show the HangSeng that is making a new high. Notice my long term trend lines.

It looks as if the analysts with the thick glasses at institutions also decided that Tencent is undervalued. Up +3.5% this morning. Notice the flat head candle yesterday .... see description below.

I showed Micron Technology before. When a share goes into a strong trend, it just keeps on going. +3.25%

JSE Technical:
No need to talk about Naspers again .... it just follows Tencent.

Lets show Richemont that made a long leg candle on support. Some signals turned, but not FrontRunner or MACD yet. Also see candle description below.

I had to zoom out quite a lot to show the resistance of Bidvest. I show the resistance line and where FrontRunner and MACD broke up to attack this resistance line. Well it got smashed!!!! Stay with the winners!

Flat Head Candles:
When you get a flat head candle, it says that their is no resistance on moving in the same direction. If you get a leg, that is resistance, and the longer the leg, the more resistance. That is where long leg doji's come from. Every candle tells a story .... you must just read it. I showed Richemont to alert you to the long leg at bottom. That is uncertainty on futher down movement.

I believe that we will hear later this week about futher down gradings. So be carefull?
Enjoy your day.
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