ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for smarter Trade smarter, not harder: Unleash your inner pro with our toolkit and live discussions.

Itm Power Price: ITM Gaps Upward, Averaging a Barrier at 60

Share On Facebook
share on Linkedin
Print

Buyers have been seen trying to push some positions against bears in the exchange lines of Itm Power Plc (LSE:ITM), as the price has been seen gaping upward to average a barrier around 60.

As of the writing of this technical article, the situation has improved thanks to a promising move that is focused on line 55. The resulting candlestick illustrates how uncertainty may begin to manifest itself in the stock market’s activity, particularly if the market’s behavior tends to deteriorate in the next few transactions. In order to push farther past the above resistances from their current trading position, bulls must adopt a consolidation technique.

Resistance Levels: 60, 62.5, 65
Support Levels: 50, 47.5, 45

Now that the stochastic oscillators for the ITM Plc stock have entered the overbought area, which direction should one be cautious in?
As the stochastic oscillators have penetrated the overbought region, it calls for exercising caution, given that the ITM Plc shares have gaped upward, averaging a barrier at 60.

The 50-day EMA trend line is above the 15-day EMA trend line, which is currently attempting to curve back north. The primary underlying zone that bears would have had to overcome to render the current upward gaping move invalid seems to be the trade line at 50. The stochastic oscillators have entered the overbought area, indicating that purchasing aptitudes may need to be put on hold for the time being.

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

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).

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.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com