I have been trading this stock for about a year now & based on the support/ resistance lines it appears to have bounced off the old resistance level along with the proce action staying within the channel.
I have looked at the 4 hour chart on the MACD and appears to be reversing I always like to buy pre the MACD reversal, I find the gains are bigger.
Last post: May 31st. See chart .
Review: Price had bounced off a support area and was above the £10.00 round number.
Update: Price has dropped lower but is finding support at another support level. The 200 simple moving average below may also provide support if price moves lower.
Conclusion: We will have to see if the support area can hold. It would be best...
Last post: March 23rd. See chart .
Review: Price was stuck in a period of consolidation.
Update: Price has managed to free itself from the area of consolidation and has used the resistance level of that consolidation zone turned support to help it find strength to the upside.
Conclusion: We need to wait for a breakout of the previous high before looking for a...