Technically, it is not looking good for AXIATA as its 20-Day Moving Average is sloping downward and its price action is below the Moving Average line.
For a turnaround to occur, the price needs to decisively break the resistance of 3.2 which has resisted any upward.
The indicator analysis on RSI is not exhibiting any extreme condition.
Watch out for the 30% and 70% levels which indicate any oversold and overbought condition respectively.
Resistance 1 : 3.200
Resistance 2 : 3.260
Support : 3.100
Descending Triangle identified at 9 Jun 2020 and complete at 3 Aug 2020.
Possible bearish price movement towards the support 0.310 if RSI not change.
For a turnaround to occur, the price needs to decisively break the resistance of 3.2 which has resisted any upward.
The indicator analysis on RSI is not exhibiting any extreme condition.
Watch out for the 30% and 70% levels which indicate any oversold and overbought condition respectively.
Resistance 1 : 3.200
Resistance 2 : 3.260
Support : 3.100
Descending Triangle identified at 9 Jun 2020 and complete at 3 Aug 2020.
Possible bearish price movement towards the support 0.310 if RSI not change.
Trade closed: stop reached