BID CORP Consolidation Phase + Potential Bull Flag Structure

Lester Davids
Dec 6, 2024
1 min read

A double alert produces cash flow for active traders

Friday 06 December 2024 (Time: Pre-Market)

The automated price action model alerted to a buy/long at the swing lows, with the short term reading at the end of day on Wednesday 30 October as follows: "The reward-to-risk is becoming attractive for a small buy/long positions. In the subsequent four trading sessions, the share trade between R416 and R420, giving traders an opportunity to accumulate. This was followed by a rally to a high of R467 (+11%) over a six-day period. At current levels, the share is in a consolidation phase while potentially developing a bull flag technical formation that is triggered on the following: (1) Maintaining the stable price action and (2) trading and holding above R457. Here, upside target is R485.

The original (time-stamped) model reading is shown below:

Previous Post: BID CORP: Cash Flow For Active Traders. Massive Rebound Off Model Reading

Tuesday 12 November 2024

Time: 10h36

Massive rally from R417 to R462, generating cash flow for active traders.
The rally is confirmation of what the model's probability readings on 31 October.