JSE:GLN Glencore Stock Being Distributed

Oct 16, 2018

Glencore has broken the upward stride that was in place since 2016. After breaking the stride there was a decline on volume and wide spread bars indicating Signs of Weakness (SOW). The subsequent rally bars has smaller spread with declining volume indicating the demand has dried up and the distribution is nearly complete. Once the trend line for the current correction is broken the markdown could start. The Volume RSI also indicates weakness with volumes on green bars being lower than for red bars.

Oct 23, 2018

Note

The markdown seems to have started with a break of the bear flag.

Nov 18, 2018

Note

GLN continues to be week.

Jan 4, 2019

Note

The weakness continues.

May 1, 2019

Note

The distribution continues.