Big low not here yet? .... Charts are not always perfect

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Derek  14 Nov 2018

Good Morning,

International:
Analysts at Bank of America made the statement that the BIG LOW is not here yet? They expect futher downside. We will watch the indicators to see if this becomes reality.

Markets are still mixed with Australia down the most.

I want to show the HangSeng. Notice that FrontRunner is busy making higher lows. I marked it on the chart together with a head and shoulder formation.



Some shares are still correcting strongly. I want to show that you do not always get a perfect chart. Abbott Laboratories made as close as what could be a double top. You can see that the right side did not complete touch the previous top.



I must show Coca-Cola again. This share was just making new highs while the rest were correcting. We have now 2 doji's in overbought territory and a frontRunner moving down. Has the top now been reached?



JSE Technical:
British American Tobacco plunges on possible methol ban in US. We had a red Trend Factor for a long time warning to stay away. Unfortunately I must show some of these red trend factor shares, as we have so few green ones. I am only showing the past few months, but this share is coming from 94000 since May 2017.
The previous day's drop was -12% followed by a -2.12%.



The Resources sector on the JSE is still correcting.



You must enjoy your day.
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