SKY LSE:SKY gapped up significantly last week.
Previously this stock was just travelling sideways and was hovering around the £10 figure, then unexpectedly price
jumped up which may be down to a news announcement.
As technical traders we believe that the news is factored into price and regardless of what caused the gap, we have to figure
out how to trade this...
Failure at falling trend line on the daily chart
Money flow indicator reversed from 80.00 levels, rising trend line breached
Daily MACD tilting in favor of bears
Major averages still sloping downwards
Hence, prices appear on track to breach 50-DMA support of 885 and test key support levels of 865 and 841 levels in the days ahead.