Very interesting setup forming out here. What historically looked like a major resistance level, formed by that nasty gap down during November last year, looks like it has now flipped to become a reliable support area for the price to rebound from.
After pushing right through 230p and tagging recent highs of 290p, the price has since drifted back down to test this key floor roughly three times.
Tuesday’s session was a clear sign that someone was showing their hand. The price exhibited some really tight compression and was firmly rejected on the downside on 2.25x the average volume. That tells me the buyers were sitting there supporting the price, quietly absorbing the selling pressure at the key level.
We could be looking at a major change of sentiment right here at the floor, and the price could easily gear up to retest those recent highs. Definitely one to watch.
Price target: 290p
Potential reward: 21%
After pushing right through 230p and tagging recent highs of 290p, the price has since drifted back down to test this key floor roughly three times.
Tuesday’s session was a clear sign that someone was showing their hand. The price exhibited some really tight compression and was firmly rejected on the downside on 2.25x the average volume. That tells me the buyers were sitting there supporting the price, quietly absorbing the selling pressure at the key level.
We could be looking at a major change of sentiment right here at the floor, and the price could easily gear up to retest those recent highs. Definitely one to watch.
Price target: 290p
Potential reward: 21%
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.