Share prices have been consolidating between 0.6978 resistance and 0.6307 support since 10th of March after it broke out of the resistance trend line marked in green. It has also created a price gap to the upside.
Share prices managed to break out of 0.6978 resistance towards the last two hours of the last trading session and almost reach 0.7458 resistance but could not hold on to its gains and bears took control towards the end of the session pushing the price down and closing around the support area at 0.7072.
Here is my estimate of the short to medium term direction of the share prices.
1. It will need to break and hold above 0.7458 resistance before we could see further moves to the upside
2. A break down below 0.6307 support could see prices fall to around 0.5665
Share prices managed to break out of 0.6978 resistance towards the last two hours of the last trading session and almost reach 0.7458 resistance but could not hold on to its gains and bears took control towards the end of the session pushing the price down and closing around the support area at 0.7072.
Here is my estimate of the short to medium term direction of the share prices.
1. It will need to break and hold above 0.7458 resistance before we could see further moves to the upside
2. A break down below 0.6307 support could see prices fall to around 0.5665