Price has held £7.30 area for around 6 weeks during the very intense selling from world equities. This area represented a gap to be filled dating back to 2017.
There is a further gap lower for those hoping for an even better entry. It's possible the price could hit this area but increasingly unlikely given duration of support at £7.30 (obviously further pressure on equities incl. BREXIT could change this).
During the fall the price has also formed a descending wedge which is the main bull case. The positive close into the year end at £8.00 put pressure on the top of the wedge. Most technical indicators are exhausted to the sell side.
Upside targets are attractive. A break above £10 would be a significant step representing a break of the downward trend and also a rejection of the H&S formation consistent with many stock prices at the moment.
Targets £10, £14.40, £18.70
There is a further gap lower for those hoping for an even better entry. It's possible the price could hit this area but increasingly unlikely given duration of support at £7.30 (obviously further pressure on equities incl. BREXIT could change this).
During the fall the price has also formed a descending wedge which is the main bull case. The positive close into the year end at £8.00 put pressure on the top of the wedge. Most technical indicators are exhausted to the sell side.
Upside targets are attractive. A break above £10 would be a significant step representing a break of the downward trend and also a rejection of the H&S formation consistent with many stock prices at the moment.
Targets £10, £14.40, £18.70
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.