Strong signal to go down but with risk attached
Weekly, Monthly levels attached
Reached all time high so general expectations it will go high once more but will retrace at some point
After going through a 10yr accumulation 888 holdings PLC has been on a trend channel advance for the past year.
P&F count from lower accumulation gives an upper target of 515.
A recent pullback to previous resistance at 300 has provided a low % entry opportunity. A slow pullback toward the lower trend line in the coming weeks would be a better entry.
Price at...
The news about 888 buyout (and later the news about the proposal failure) made the stock spike above the weekly 61.8 Fib level, which was also a major structure resistance zone.
Currently 888 still finds support on a small weekly structure zone (140-150), but judging by the daily price action, we could see the price breaking this support zone in the near future....
