by xmart Thu Oct 25, 2018 9:56 pm
REXP![Trading Journal - Page 5 Screen14](https://i.servimg.com/u/f91/16/37/43/90/screen14.png)
There is an interesting chart again. REXP has been on the downward channel since 2016 and indicators show that turnover occurred at 160 level. a breaking of 200 psychological barrier would ensure that down trend has also come to an end.
the breaking of 200 would open possibilities to test the immediate resistance of 220, then 245 and 265 in the coming months if the trend is strong. fundamentally if REXP could earn 50+ EPS with favorable exchange fluctuation, GSP+ etc.
BFL![Trading Journal - Page 5 Screen15](https://i.servimg.com/u/f91/16/37/43/90/screen15.png)
Technically, BFL is forming a double bottom in the weekly chart around strong support area 115. given policy decision on maize importation, it is not possible to expect big appreciation in share price but forming of the double bottom would take BFL to 155-160 region for consolidation.
SAMP![Trading Journal - Page 5 Screen16](https://i.servimg.com/u/f91/16/37/43/90/screen16.png)
classic chart for classic share. SAMP has completed it's 5 waves in complete Elliot cycles from 2012-2018 period in another major Elliot wave (Wave I) and then looking forward to start its 2nd wave to 450+ in 4-5 years. but excessive correction had brought the share below to 220 which is discounted since technically bottom could have been around 250.
deeper the correction, swifter the wave! so, this share probably corrected to 275-280 level once the market base established.
SCAP![Trading Journal - Page 5 Screen17](https://i.servimg.com/u/f91/16/37/43/90/screen17.png)
interesting chart for failing wedge bullish continuation. testing of psychological barrier 6 in coming days is an inevitable and likely breaking of 6 to test 6.3 would bring 20% capital return and nearly 8-10% dividend gain. if 6.3 resistance broke successfully with the failing wedge, we could expect SCAP to test 7.50 -7.70 in coming months.
open for discussion! please..
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