MONY upper resistance dominant, monitor and see what happens No advice given
LSE:MONY Is there a change in sentiment here? A sudden change in relative volume tends to make me sit up and take notice. When coupled with a lower wick that was quickly rejected, it could be signaling buyers are taking over here. I will aim to trade this via a spreadbet and put a target on this to get back up to the 270's.
MONY Fundamental - mediocre trading statement caused the significant drop in share price. Technical - Price has broken the support level and is in a deserted island with no support. expecting a retracement back to the previous support line prior to continuing the trend.
Buy order placed at 343 which is above Fridays high. RSI & STOCH both oversold. Last time STOCH was at these level price rallied from 318 to 370. Solid fundamentals, increasing profit margin, analyst ratings outperform/buy. Stop at 320 TP1 350 TP2 390