TECHNICAL ANALYSIS: Bidvest, a low-risk buy for investors | Fin24
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TECHNICAL ANALYSIS: Bidvest, a low-risk buy for investors

Aug 14 2018 20:07
Colin Abrams

A monthly chart of Bidvest [JSE:BVT] shows it having dropped to an important support area, making it a low-risk buy for investors, as shown on its chart.


Investment Strategy: Hold if in/Buy if not in

Long-Term Trend: UP


Chart Setup: Bidvest has sold of this year together with other large-cap findi stocks, but has now reached an important support level at line 2 (R183), as well as line 1 at R185 now.

  • Its rising 20-month moving average is also there to provide extra support.

Its monthly Stochastic is oversold which is bullish.


Strategy: All in all, this is a low-risk entry point for investors to buy/add to existing holdings.

Target: Upside target is to R245 (its April/May highs) for partial profit taking. And take the rest on a retest of its all-time high at the R250 level.

Stop-loss: A monthly close below R179. 

  • Colin Abrams is an independent technical analyst. To subscribe to more recommendations by the author, or attend trading courses, please go to

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bidvest  |  markets  |  equities


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