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Indications are increasing that the period of inactivity in the exchange market of Tern Plc (LSE:TERN) may be gradually nearing an end, as the stock price has recently dipped below the critical lower trade zone of 1.2, potentially searching for a base around the 1.0 level.
As it stands, it is technically unwise for bears to forcibly extend their downside moves beyond the key 1.0 trade line, particularly within the context of a long-term downtrend that appears overstretched. The emergence of a bullish candlestick at any moment could prompt investors to begin accumulating positions strategically at early discounted levels, positioned just below the converging trend lines of the short- and medium-term moving averages.
Resistance Levels: 1.4, 1.5, 1.6
Support Levels: 1, 0.80, 0.60
Based on indicator perspectives, will TERN Plc stock likely extend its downward trajectory further?
It would be out of technical principles to execute fresh shorting position orders in the bargaining of Tern Plc toward the line of 1, as the financial trade output shows that the price dips potentially searching for a basement.
The rate of falling in the candlestick pattern has increasingly suggested that bearish momentum is on the verge of losing ground. The 15-day EMA indicator remains positioned on the southward side of the 50-day EMA, hovering just above the prevailing market line and acting as a technical lid. Meanwhile, the stochastic oscillators have tactically been swerving through levels between 40 and the oversold region, denoting that buyers should remain strategically informed and prepared for the next possible upward jerks expected to emerge shortly.
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