JSE:DGH Distell Ready for Markup
Distell has formed a typical Wyckoff Accumulation Trading Range. After the Selling Climax (SC), Automatic Rally (AR) and Secondary Test (ST) in Phase A we saw a lower volume adsorption volume in Phase B and then a Last Point of Support (LPS). Now there has been a change in character with Signs of Strength (SOS) seen by the increase in volume and ease of movement to the upside. After a declining volume pullback or Back-Up (BU) som volume together with a reversal bar points to the mark-up being ready to start.
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