An extract from my research note for Monday, 26 July.
Bid Corp (BID, 31702c)| At the top of last week we highlighted the 50-day EMA as a provisional buying zone, which was tested and held for 1300c upside (Monday through Thursday). As the price continues to recover, we think the 31989-32321c (the 50/61.8% FIB) level offers an area to re-sell on the expectation that the downward trend line continues in the short term.
Bid Corp (BID, 31702c)| At the top of last week we highlighted the 50-day EMA as a provisional buying zone, which was tested and held for 1300c upside (Monday through Thursday). As the price continues to recover, we think the 31989-32321c (the 50/61.8% FIB) level offers an area to re-sell on the expectation that the downward trend line continues in the short term.
