Supply@me Capital Price: SYME to Set a Descending Pattern

PUBLISHED: May 10 2023 @ 23:59 | Comments (0) | More info about Azeez Mustapha

There has been a feeling that the Supply@me Capital Plc stock holding company (LSE:SYME) may soon set a descending pattern around the 0.11 resistance trading zone in the pursuance of a sharp reversal of an upward trend hitting the 0.12 resistance a couple of days back. To reassemble depression forces to support the post-depression decreases, certain upsurges will be seen through the indicated resistance points suggested below. Thus, buyers should be careful of jumping alongside such a presumed moving force to escape the unnecessary whipsawed moment.

Resistance Levels: 0.11, 0.12, 0.13
Support Levels: 0.070, 0.060, 0.050

What is likely to be the SYME Plc market buyer’s position above the EMA trend lines now?
In line with the headline, it is likely for the Supply@me Capital Plc price to set a descending pattern far above the EMA pathways. The 15-day EMA indicator has intercepted the 50-day EMA indicator to the north side as they point between 0.057005 and 0.068113. The Stochastic Oscillators have penetrated the overbought region, keeping a slight northbound-crossing mode to signify that a decline motion is in the pipeline.

Learn from market wizards: Books to take your trading to the next level

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.