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Daily chart analysis - Just sitting above major trend line support and trading within a falling wedge structure. Indicators show a rising RSI with MACD diverging to price. Favourable R/R trade with 1st target price 2490
Recently oversold with signs of new uptrend.
Hold till overbought RSI/resistance level/signs of bearish reversal
Place stop loss at 2800
Risk/reward ratio: 7
We have divergence to price on the 4hr & 1hr chart with MACD & RSI. Potential for a good risk reward trade here
Despite the rebound of monthly 50-MA support in July and a positive August candle, the subsequent failure to hold above monthly 5-MA this month coupled with a drop below monthly 10-MA amid bearish indicators suggests the stock is likely to re-test monthly 50-MA support seen today at 2615 levels.
Shares gaped lower today and extended losses on reports the ...