Murray Roberts closed above previous resistance and RSI crossing the 30 scale upwards indicating a possible reversal. The hammer type candle (25 May), indicates after a strong opening above resistance with sellers trying to push the price back down but strong buying pushed the price through key resistance to close 16.53% higher for the day (short wick above with long wick at bottom). Traders should first confirm that strong buying is maintained in next sessions before considering a long position. Should this be confirmed with strong support at 437, possible next targets 488 and 561.
Disclaimer: My analysis should not be construed as financial advise. Share trading is risky and unpredictable at best. I'm just sharing what I see.
Disclaimer: My analysis should not be construed as financial advise. Share trading is risky and unpredictable at best. I'm just sharing what I see.
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Murray Roberts broke out spectacular today, opening above the 50 MA with sellers trying very hard to push the price down below resistance but buyers saw previous resistance as support and it closed just short of the 50 MA.
