Profit taking at HangSeng

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Derek  13 Sep 2017


All markets still strong positive except for the HangSeng where there is profit taking this morning. I show the HangSeng and notice that it touched resistance 3 times, always a sign that profit taking is happening.

JSE Technical:
AVI announced good results about 3 days ago, but the market is only reacting now. Maybe the guys with the thick glasses have now completed their investigation of the results. Notice that the trend line is broken and FrontRunner broke up.

Similar senario at Sanlam, except for the results.

It has been a long time since I showed a property share. I show Resilient where the MACD broke up. You will notice that the MACD is a lagging indicator (last one to give signal) , but for the medium to long term it works very well. Notice the nice trend since April.

Enjoy your day
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