During the last part of the year already passed, we saw a downward trend of this stock.
Many factors can associate with this downward trend, such as the decrease in demand for the transport of goods between Europe, USA, and China, and the news of the coming recession had led to the bear trend of this stock and its fall. Now the interest on this stock seems to be reducing and the movement of the price is no longer the same as before. We can see from the body of the candles, that is starting to be small, and the drop in the price is no longer intense as before.
Now the price is pressed in the area between the levels 18.68 and 16.64, which is in the phase of accumulation that can lead to a new trend, which is not possible to determine.
From my side the last level that the price can hit before the uptrend is 11.94, however, good attention to the news from the government of Beijing can be determined the future of transportation in the coming months and not only that.
Many factors can associate with this downward trend, such as the decrease in demand for the transport of goods between Europe, USA, and China, and the news of the coming recession had led to the bear trend of this stock and its fall. Now the interest on this stock seems to be reducing and the movement of the price is no longer the same as before. We can see from the body of the candles, that is starting to be small, and the drop in the price is no longer intense as before.
Now the price is pressed in the area between the levels 18.68 and 16.64, which is in the phase of accumulation that can lead to a new trend, which is not possible to determine.
From my side the last level that the price can hit before the uptrend is 11.94, however, good attention to the news from the government of Beijing can be determined the future of transportation in the coming months and not only that.