After a May Rally, BVT has drifted lower to form a weak looking left shoulder. On my daily chart it looks like the price has already broken the upward trend line support as well as the actual neckline. I will be looking to get short if we see a bounce towards R193.00. An extension of the recent high should see us attempt a target near R180.00.
From a momentum perspective, both the stochastic RSI and the RSI are looking weak which already implies, downside bias.
From a momentum perspective, both the stochastic RSI and the RSI are looking weak which already implies, downside bias.