Following a turbulent bullish effort that lasted from April 2021 to June 2021, Tern Plc stock (LSE:TERN) has completely failed to go upwards. In fact, price has been caught in medium-term upswings and downswings, which leads nowhere in the long run.
For short-term traders, the best approach at the present is to sell at resistance levels and buy at support levels. But where the price go in the long run?
The ADX period 14 is below the level 20, which means the momentum in the market is currently low. Nonetheless, the DM- is above the DM+, which means bears are currently reigning. The MACD default parameters, though currently flattening out, have its signal lines and histogram below the zero line.
There is a Bearish Confirmation Pattern in the market, which means when a breakout does occur; it would most probably favor sellers. Yes the outlook on TERN is bearish for the year and the accumulation territories at 19.00, 18.00 and 17.00 may be reached easily.
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