Plexus Holdings Plc (LSE:POS) has been testing a key support zone near 5 points. The price recently pulled up slightly to hover around 6, but rising intraday volume and small bullish candlesticks suggest buyers are gradually stepping in, hinting at a potential short-term recovery.
Plexus Holdings has been trading just below a significant resistance level, where repeated tests have so far capped upward momentum, keeping the price range-bound in the short term. However, intraday volume is gradually increasing, and small bullish candlesticks suggest buyers are steadily stepping in, signaling early signs of potential recovery and renewed upward pressure.
Resistance Levels: 7, 8, 9
Support Levels: 5, 4, 3
Can POS Sustain Its Lighter-Bullish Candlestick Formation While Remaining Below Key EMAs Near Resistance?
POS shows a lighter-bullish candlestick pattern, but the price remains under the EMAs, indicating limited upward momentum. Buyers are cautiously entering, yet sustained strength above the EMAs is required to confirm a potential breakout and shift toward stronger bullish control.
Over a couple of trading sessions, the positioning of the Stochastic Oscillators has consistently stayed in the deeply oversold region, signaling prolonged weakness and potential early recovery attempts. The trend line of the 15-day EMA remains clearly underneath the longer-term trend line of the 50-day EMA, maintaining bearish alignment while hinting at possible near-term support. Both EMAs are currently hovering at the top side of the candlesticks, creating a technical ceiling that may challenge buyers’ efforts to gain upward momentum.
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