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latest delta daily chart as of Friday
1. support uptrend line holding...bounced on thursday and friday perfectly of trendline ..as of Monday support will be about R2.12
2. looking at chart price really moved up nicely, broke through resistance line...went o high of 2.75 and then pulled back to suppprt around R2.20
3. reason for pullback :
highly overbought...check stoch...stoch now turning down into sell signal..worrying
rsi ..thats got a little to go to 20 so hopefully buyers will come in again at support
thats tech views reasoning
Other views :
1. i remember a large buyer at over 1million shares in one go at R2.20... this has to be an institution i reckon...so if he sees value at R2.20 i reckon he will come back and buy at R2.20...Thats why on Thursday during the i bought back the 20% of my shares i sold at 2.55 a few weeks ago back at 2.17......and guess what at Thursday closing auction price back above R2.20...think it closed at R2.27... so im confident 2.20 will be very strong support...However if closes below R2.20 means that buyer not there and this could mean trouble for this share.
2. results due any time soon..Maybe this week,...could be inside info selling it down as results not impressive..
3. Reb results came out this week and market smashed reb shares to below R1.00...maybe this move in delta is in sympathy with reb with i just hope is the case...although in similair sector of property market Delta is a totally different company with much higher quality of assets , lower loan to book ratio and higher net asset vales..