Mixed Picture of Corporate Sector .... Increase in Volume continued

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Derek  25 Apr 2019

Good morning,

International:
Stocks closed lower in the U.S. as earnings paint a mixed picture of the corporate sector. The East is also mixed this morning showing uncertainty at current levels.

The S&P500 could not break top resistance and needs more steam to do so. As expected, there are a lot of profit taking at current levels.



Yesterday I showed how the volume increased for HCA Healtcare at the bottom turns. Today I show it for UnitedHealth Group. Notice how the increase in volume happens in an oversold territory according to the Heatmaps (top 2 colour lines below price graph).



I mentioned before that you must not be scared of gaps, as they happen for a reason. I showed the 2 gaps of Walt Disney before, today I must show Anadarko Petroleum Corporation. Notice the total move from $46.80 to $71.40 (+52.5%) and how quickly the trend factor changed colours..



JSE Technical:
The Rand weakening is influencing the JSE considerably by depressing banks and retail.

After reaching resistance, Bidvest broke my positive trend line. Notice that we were in overbought territory.



Anglo American Platinum reached support. Notice that when a share moves sideways between 2 resistance lines, the cyclic signals become more accurate.



Enjoy your day.
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