$JSEPPE - Purple Group: 46 zac Double Top Target Still In Sight
See link below for original analysis.
Purple Group stock is still failing to catch a bid.
After a brief period of consolidation, the stock has resumed its downtrend and looks likely to hit the Double Top price target of 46 zac.
Another look at the MACD indicator shows how the bulls have tried and failed on five occasions to break above the zero line. The zero-line failure shows the bears are still in control.
What is proving to be a great filter is the 26/50EMA combo.
The 50EMA is providing resistance and there hasn't been a buy signal since the EMAs gave a sell signal in May 2022. These indicators lag price but it's probably better to be a little late than being too early.
Purple Group stock is still failing to catch a bid.
After a brief period of consolidation, the stock has resumed its downtrend and looks likely to hit the Double Top price target of 46 zac.
Another look at the MACD indicator shows how the bulls have tried and failed on five occasions to break above the zero line. The zero-line failure shows the bears are still in control.
What is proving to be a great filter is the 26/50EMA combo.
The 50EMA is providing resistance and there hasn't been a buy signal since the EMAs gave a sell signal in May 2022. These indicators lag price but it's probably better to be a little late than being too early.
