Scancell Holdings Price: SCLP Falls Deep, Seeking Support Consolidation

PUBLISHED: Jan 31 2025 @ 00:29 | Comments (0) | More info about Azeez Mustapha

The tendency of seeing the Scancell Holdings Plc (LSE:SCLP) suffering further loss has begun getting a nullification signal notes from the positioning postures of the indicators, given that the stock activity has been technically seeking support consolidation.

Currently, the oscillator indicators suggest that the market may undergo a phase of consolidation or minor pullbacks before establishing a solid base in anticipation of a potential rally. Long-term investors may consider entering the market at the current level of 9.56, understanding that further downside movement is possible before a stronger bullish reversal takes hold.

Resistance Levels: 11, 13, 15
Support Levels: 7.5, 5, 2.5

Given the present price action close to the 15-day EMA’s sell signal zone, is this the best time for investors to deploy cash into SCLP Plc shares?

From our logical point of thoughts, long-term investment has to be embarked upon in the operations of Scancell Holdings Plc stock, as the price has fallen deep, seeking support consolidation.

The 15-day EMA is currently positioned below the 50-day EMA, with the 10 price level acting as a critical resistance point for SCLP Plc buyers. Meanwhile, the stochastic oscillators are moving southward, oscillating between the 40 and 60 levels, following an upward retracement from lower bounds. This suggests that a period of consolidation or caution may be required before any significant upward momentum is realized.

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