Trump at it again .... Flags .... Case Study DCP

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Derek  24 May 2018


Automaker stocks tumble in the East this morning with new Trump tariff threat. There is just no end to this guy? All that we can do is to follow the signals.

With all this volatility created by Trump, all the indices in the US created a flag. I show this for the NASDAQ. Notice the volatility inside the flag ... one day up .... one day down.

My old favourite, NVIDIA Corporation, has also formed a flag with all this volatility. The new direction is how the share breaks out of the flag. My indications are that the break will be to the top.

First the one Alibaba stock on the HangSeng went through the sky, now the second one is following. I hope my friend that requested them invested in them?
This is what a 39% gain looks like for Alibaba this morning. No wonder the HangSeng is the only index positive this morning. Remember that Tencent and Alibaba are the major shares making up the HangSeng.

JSE Technical:
I warned about the resources making a correction yesterday, and they did so with avengence. I show Anglo with a table attached showing where the biggest drops were. I marked all the resourse shares in the table. Never underestimate a FrontRunner break in a red zone Heatmap. I marked it on the chart.

Case Study DCP:
It has been a while since we followed a share as a study. Dis-Chem Pharmacies seems to be a good one for this. We showed yesterday how FrontRunner predicted a new low coming. Also notice how the EMA8 (orange) line acted as resistance with the bounce. Now the new lows are coming, but with divergence in place. We are now waiting for a turn candle and a green MACD bar. Nothing yet, we will wait!

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