On the above 2-week chart price action has corrected 75% since the sell signal (not shown) in October 2019 @ 1600. Now is an excellent moment for a long trade position. Why?
1) A strong buy prints (not shown).
2) Strong bullish divergence. Blue circles. Look left.
3) Falling wedge is yet to breakout however with points 1 and 2 we can be confident in the...
see the details on the chart.
Fundamentals, back into profit, sales up, good national company, strong buying power, very good track record, due to covid and cost of staff/utilities/inflation took a hit recently, but its on the uptrend.
Technical is on the charts.
As always its not an advise, please comment if you like or dislike my take on it.
After a 3.3 per cent rise in like-for-like sales for the quarter, the company warned of slower sales in the months ahead.
The monthly chart shows multiple failure at 995.089 (161.8% fib extension)... the share price currently hovers around 928 levels. We see a bearish engulfing pattern.
Break below 915.886 would open doors for a completion of a double top...
