Bidvest: Failure To Hold + Reversal In Line - Wednesday, 21 August 2024

Pre-Market

Ticker: BVT

Yesterday's bearish reversal in BVT is in line with Monday evening's short term reading which stated that: "Aggressive buying was underway, however, traders should not chase but instead, look for an overshoot and failure to hold it's prior session highs and short/sell back to the 8-day EMA".

The extract from Monday's end-of-day data set is shown below:

As of yesterday's close, we saw the share print ga bearish engulfing candle. Look for a potential gap fill (lower) at R273, which is in line with the 21-day EMA.

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Most recently BVT provided the following opportunities for clients of Unum Capital.

Lester Davids

Analyst: Unum Capital