At the moment price looks strong as it heads up making higher highs and higher lows. Although it looks strong now, the uptrend could find some difficulty advancing any higher at the consisting of the £1.00 round number and the all-time high.
Elecosoft is a software development company which is performing well at the moment and seeing an increase in over the past week.
The 50 has been used as support on both the Weekly and .
Price does not show any signs of slowing down and may prove to be stronger than the standing in its way. If this proves to be true then we may see price smash through the then go on to make new all-time highs.
Getting into a long trade now would not be the best option here as the upside may be limited, so it may prove to be best to wait for price
to clear the then the upside will be clear.
More updates to follow...
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