$JSEARL - Astral Foods: Short-Term Technical Buy
I still maintain my long-term bearish view on Astral as per my previous analysis, link below.
Stock do not go down in a straight line and even with weak fundamentals and a strong bear trend, there will be bounces/corrections to the upside.
Astral stock has found trendline support at 14896 and has broken above the short-term resistance trendline.
As the stock continued to make new lows from 27 October 2022, the MACD starting trending up creating bullish convergence and the MACD is gaining momentum above the zero-line.
Long position idea:
open @ market
aggressive stop-loss @ 15800
conservative stop-loss @ 14796
take-profit 1 @ 18000
take-profit 2 @ 19000
Stock do not go down in a straight line and even with weak fundamentals and a strong bear trend, there will be bounces/corrections to the upside.
Astral stock has found trendline support at 14896 and has broken above the short-term resistance trendline.
As the stock continued to make new lows from 27 October 2022, the MACD starting trending up creating bullish convergence and the MACD is gaining momentum above the zero-line.
Long position idea:
open @ market
aggressive stop-loss @ 15800
conservative stop-loss @ 14796
take-profit 1 @ 18000
take-profit 2 @ 19000
