JSE:SNT Santam Distribution
Another one where the distribution has completed. After going overbought when it spiked through the upper trendline a buying climax (BU) was formed in 2018. After that Santam was trading in a distribution trading range. After an upward thrust (UT) price has been unable to break above the 200 SMA and Yearly Pivot Point and formed a last point of supply (LPSY). Now the price has broken the trading range and backed up (BU). Santam is weaker than the Top 40.
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