DCP Dis-Chem Pharmacies
The share may be printing an 'inside bar' - which has in the past signaled a reversal of trend. Most recently the share is down from it's 27 March peak of 2757c to Friday's low of 1805c. The MACD is printing a higher low (bullish divergence) while the RSI is making a slight turn up. The share also trades close to the oversold zone with a reading of 33. I'd like to see a positive close today, with the majority of tomorrow's trading action being in the upper end of today's bar. This will signal some form of stabilization and potential follow-through from the 'inside bar' candle structure.
The share may be printing an 'inside bar' - which has in the past signaled a reversal of trend. Most recently the share is down from it's 27 March peak of 2757c to Friday's low of 1805c. The MACD is printing a higher low (bullish divergence) while the RSI is making a slight turn up. The share also trades close to the oversold zone with a reading of 33. I'd like to see a positive close today, with the majority of tomorrow's trading action being in the upper end of today's bar. This will signal some form of stabilization and potential follow-through from the 'inside bar' candle structure.
