Classic fib driven demand areas on this chart. Very loyal to these levels. Present pullback has a high probability of a bounce in the 4000-4100 area. Fib level suggests 4070. I would look for this to move back to at least it’s ATH if not above on the next move up.
Price has a number of well defined historical boundaries. Firstly it is very respectful of the Bollinger Band bottom, top and mid. Se one we have a horizontal support atound 2800 carved out covering the full year 2018. This horizontal could be interpreted as a "neckline" as the overall chart structure resembles a large H&S, this line breaking would be bearish/a...
Last post: June 11th. See chart.
Review: Price was holding at a support level.
Update: Price has since bounced off the support area and looks ready to tackle the resistance level just above.
Conclusion: If there is a breakout then we can look for long opportunities which may happen soon.
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Last post: June 7th. See chart.
Review: Price had moved above the resistance level and was also above the £30.00 round number.
Update: Price has now pulled back to the support level which was previous resistance.
Conclusion: We have to see if the support level can hold price up. We can then look for long trades when the previous high is broken on the daily...
Last post: June 1st. See chart.
Review: Price was trading above the previous resistance level but was coming up to the £30.00 round number.
Update: Price is now above the £30.00 round number and looking strong.
Conclusion: A breakout of a previous daily high will offer us the opportunity to enter a trade.
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Last post: May 27th. See chart.
Review: Price had just broke through the resistance level.
Update: Price has now cleared the resistance and is facing the £30.00 round number.
Conclusion: We need price to rise above £30.00 before looking for trading opportunities. If price returns back to the consolidation zone then we need to stand aside.
Any comments or...
This stock is featuring for the first time on our TradingView blogs.
Current setup: Price has just broken out of the consolidation zone by a few points.
Conclusion: We need to wait for price to move higher then pull back and see another breakout to confirm this is not a fake breakout.
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