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A significant upsurge has occurred in the way that bull has been pushing against bear in the stock exchange of Bluejay Mining Plc (LSE:JAY), as the price currently sets a buying wall above 0.3, attempting a reversal around 0.5.
Currently, if bulls were to take advantage of the forces trend, the impulses on the price actions have accumulated enough energy to push back farther upward through higher resistances beyond the 0.5 mark. Following that, the market line that appears to be the immediate underlying support against significant free falls that might turn in favor of bears is around 0.4.
Resistance Levels: 0.55, 0.65, 0.75
Support Levels: 0.35, 0.3, 0.25
As the shares of Jay Plc trade above the EMAs, would the present bullish candlestick completely reverse soon?
Reversing the present bullish candlestick totally seems unrealistic in the near future, given that the Bluejay Mining Plc stock market has set a buying wall, attempting a correction around 0.5.
The 50-day EMA trend line and the 15-day EMA trend line are marginally positioned opposite each other. And their respective values are around 0.33. The stochastic oscillators have a significant inclination towards the north, veering from the oversold area to intersect with some areas in the overbought zone. This prompts traders to execute orders cautiously in different directions.
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