$JSEBLU - Blue Label Telecoms: Trading The Reverse Divergences
Blue Label has been trending upwards in a choppy manner recently.
The MACD indicator has been providing pretty accurate trading signals in this choppy market.
Classis divergence is when price makes new higher highs but the MACD makes lower highs and is viewed as bearish.
The lesser known reverse divergence is when price makes higher lows but the MACD makes lower lows and is R5.65viewed as bullish.
The MACD has given a buy signal.
trade recommendation
buy-stop @ R5,67
stop-loss @ R4,66
take-profit @ R7,50
The MACD indicator has been providing pretty accurate trading signals in this choppy market.
Classis divergence is when price makes new higher highs but the MACD makes lower highs and is viewed as bearish.
The lesser known reverse divergence is when price makes higher lows but the MACD makes lower lows and is R5.65viewed as bullish.
The MACD has given a buy signal.
trade recommendation
buy-stop @ R5,67
stop-loss @ R4,66
take-profit @ R7,50