Trading Bid Corp: Generate Cash With An Active Approach

Lester Davids

11 hours ago2 min read

Trade Bid Corp with Unum Capital.

To get started, e-mail lester@unum.co.za

The current price action model reading is as follows:

Well done to clients who are capitalizing on the opportunities at hand.
BID Corp has given clients opportunity on both the long (buy) and short (sell) side.
The share has retreated by over 9% since recently entering an overbought range close to R480, as mentioned on 31 January (see time-stamped comment/note below).
The end of day price action model reading on 31 January also warned traders that aggressive buying was underway but that they should NOT chase/buy as there was a risk of a pullback (the time-stamped reading is shown below).

After A 6000c Rebound, This Is The Next Key Level To Monitor.

To accelerate momentum, R470 remains a key level / now attempting to break above this level / in the short term, it has entered an overbought range.

Note: It been flat for 12 months hence you could say it's not overextended. Exposure to Europe and UK + stronger ZAR has weighed however, if EUR & UK turn positive, the share could start to reflect the positive change in sentiment.

[The original model reading (31-October), which highlighted the probability for a rebound, is shown further below on this page]

*BID Daily Chart as of Friday 31 January at 15h29*

Clients will recall our model reading reading looking for a rebound 31 October (Note Published: Thursday 31 October 2024). Scroll down to view the original post.