A name we discussed on the trading desk on Thursday at 12794c.
Current Level: 12987c
- The share has been back-testing the 200-day SMA for the first time it cleared this level a year ago.
- The 50-day EMA was lost on 27 August and since then, every back-test has been sold.
- 50-EMA now ~13835c, which could act as a target zone should the 200-day SMA hold. Alternatively, a move around the 13500c-13600c zone.
- Price currently also back-testing 28 May breakout zone.
- Strong bids on the tape required.
- Stop: 12670c
*Know Your Time Frame
Current Level: 12987c
- The share has been back-testing the 200-day SMA for the first time it cleared this level a year ago.
- The 50-day EMA was lost on 27 August and since then, every back-test has been sold.
- 50-EMA now ~13835c, which could act as a target zone should the 200-day SMA hold. Alternatively, a move around the 13500c-13600c zone.
- Price currently also back-testing 28 May breakout zone.
- Strong bids on the tape required.
- Stop: 12670c
*Know Your Time Frame