Good news for investors as this stock goes this way

PUBLISHED: Oct 17 2022 @ 06:47 | Comments (0) | More info about Azeez Mustapha

Scancell Holdings Plc stock (LSE:SCLP) has shown a clear willingness to break the resistance zone at 14.00, and after that will skyrocket. This is good news for investors.

In the short-term, the EMA 21 is sloping upwards and price is making effort to remain above it. There is an immediate resistance level at 14.00, which would be breached to the upside soon. Even the William’s % Range period 20, is not too far from the overbought region.

Right now, there is no strong directional movement in the market but that is expected to begin soon as a huge momentum is developed. The possibility of the price going upwards is higher than its possibility going downwards.

Once the resistance zone at 14.00 is breached to the upside, the next targets for SCLP will be the resistance zones at 15.00, 16.00 and 17.00.

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