Profit taking at current levels .... J-Curve developing

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Derek  29 Aug 2018

Good morning,

Some profit taking is taking place at current levels. Although all indices are positive, small movements are taking place.

Lets show Australia this morning. After its recent dip, the ASX managed to climb back to previous top. It is moving in a tight band. So is FrontRunner. But the long term trend remains positive.

Berkshire Hathaway did manage to break previous resistance and the strong trend line remains!

After a long correction, Estee Lauder broke the negative trend line. It is however making very strange high daily moves. When I look past the daily moves, I see a W in the making.

JSE Technical:
The JSE is really surprising me the past 2 weeks.

Bidvest has managed to climb back into a positive trend factor to close on next resistance.

So did Sanlam. I must show how well the J-Curve has developed now.
Notice my strong support line drawn at bottom and strong resistance line drawn at top. The more they get touched, the thicker I make them! To do that, just double click on a line to change thickness or colour.

Enjoy your day.
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