The Price Action is not looking so good, was met with a strong resistance at 38.88 this has been a major support turn resistance , if price conveniently closes above 40 then we might have a bull run , but from the looks of this price action it seems it's merely a bearish correction and price distribution is taking place, meaning that price will further decline as...
We have a rising wedge in an uptrend which signals a reversal. We are also seeing a bearish divergence on the Stochastic(14,3,3).
16.00 to 17.00 is a good range to go long when price hits that area, but we will need confirmation.
Why? Just below is a trendline that has four (4) touches already, so we want to be sure the momentum is with the bulls before going...
We are presently in a channel, two touches down and two touches up. Price appears to be heading back to the bottom of the channel.
Stochastic(14,3,3) has left overbought. Price, 34EMA and 55EMA are all below the 200SMA. It is also important to point out that the 34EMA is below the 55EMA.
What this means is that when price hits 6.07 or thereabout, we would need...
The stock is already on a downward trend.
support line/demand zone broken at N40.00
The next support level is at N24.00 and N14.00.
December candle formation is an inside day bar.
The direction of the coming month price action will determine the stock direction.
The stock is under close watch for the next entry point. You like to receive a...
Earlier price made a lower low but the RSI(14) made a higher low, showing a bullish divergence. Price rallied up briefly but couldn't break past 18.40. Now it is bounced off the 52W Low. I expect price retest the most recent low of 7.04 or get close to it. When that happens, that would present a good long opportunity. We might see some side-upward...
Fcmb is in a falling wedge, and in a perfect opportunity for buyers to buy between N1.50 and N1.53 has acted as a perfect support, reaching the apex of the wedge we will see a break upwards, as there are many closer supports and price is already at the apex of the wedge and ready to go upwards
Cadbury Seems to be in a state of supply exhaustion, the support at N7 should hold meaning that the stock is being accumulated at that price, still watching it closely, I will rather wait to buy within N7-N7.5