On the above monthly chart price action prints a higher low following a 80% correction since early 2016. Shortly after a 2:1 stock split. A ‘great buy’ opportunity now exists.
Why Bullish?
1) Regular bullish divergence between price action and the money flow index (MFI) - oscillator on bottom of chart.
2) Trend reversal. A higher low was printed from the crash in price action back in 2009.
3) The 3-month chart below provides a clearer picture of the overall trend between price action support and resistance. Clearly an amazing opportunity.
A buy from 130p is amazing if you can get it. Expecting price action resistance between 160-180.
Target? Around 800. This will take time 5 - 6 years but it beats cash resting in the bank account with no interest like the past 10 years!
3-month chart:
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Up a massive 30% already in only 3-months. Expecting some resistance between 200 - 240.
Another buying opportunity might occur around 160 but that will be the last chance before higher highs are made.
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Perfect - playing out as indicated above / below. A buy from current levels is good. 140 excellent.
Trade active
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Stochastic RSI crossing up 40, safe long entry at this time.