China bounce back! .... You do not have to buy the World

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Derek  24 Jul 2018


The East is bouncing back strong this morning. The US had moderate gains.

I must show the HangSeng. Notice the double bottom on support with divergence. Looks like they are ignoring Trump for now.

My old Favourite, Bank of America, is just moving positively after the 4 month correction.

So does Comerica Incorporated. Do notice that both shares are slowly moving into overbought territory, but the trend remains strong.

JSE TEchnical:

Pik n Pay came to kiss my support again. Notice the 2 long leg doji's in the last 3 days.

Notice the long leg doji for Kumba Iron Ore too. The first warning of a turn is a candle, this needs to be followed by a technical break.

You do not need to follow the World for good opportunities. If you choose a handful of shares and put them in a watchlist and watch their moves daily, you will learn the character of those shares.

Enjoy your day.
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