Following the breakout in end-2023 from the diagonally-downward sloping channel dating back from mid-2021, the share price found resistance at the 0.236 fib level. Proceeding this, another fib could be drawn to identify the next support level. Everything indicates that support will be found at 0.382 fib level of the latter mentioned fib, this also coinciding with the recently drawn support line.
One can also note that a bull flag pattern is in the works, with the pole dating from mid-November 2023 until end-December 2023 and the flag from the latter and still ongoing.
Although the MACD did not yet cross the signal from below, it is only a matter of time.
The 50 SMA recently crossed from below the 200 SMA, and the share price seems to have found support at the 50 SMA.
RSI stands at 42 so it is in mid range.
The company also has a solid P/FCF and P/B.
1st price target: 3.90
2nd price target: 4.18
One can also note that a bull flag pattern is in the works, with the pole dating from mid-November 2023 until end-December 2023 and the flag from the latter and still ongoing.
Although the MACD did not yet cross the signal from below, it is only a matter of time.
The 50 SMA recently crossed from below the 200 SMA, and the share price seems to have found support at the 50 SMA.
RSI stands at 42 so it is in mid range.
The company also has a solid P/FCF and P/B.
1st price target: 3.90
2nd price target: 4.18