Formation of a "V" Pattern. It has broken downtrendline on 17 July with a heavy volume and wide trading range, which indicates that selling pressure has climaxed. Long term TP would be 0.345, with each of the Fibonacci level acts as a support and resistance at 0.255, 0.275 and 0.305. Our B.U.Y system has also triggered today, confirming a change of trend from downtrend to uptrend.
Disclaimer: The content provided are STRICTLY for research/learning/educational purposes and NOT a recommendation for buying or selling any stocks. Please be reminded to trade at your own risk and consult your dealer/remisier before proceeding to make any orders.
Disclaimer: The content provided are STRICTLY for research/learning/educational purposes and NOT a recommendation for buying or selling any stocks. Please be reminded to trade at your own risk and consult your dealer/remisier before proceeding to make any orders.