LSE:FFX Recently broke its previous all-time high which was at £0.88.
After a major area is broken we can expect price to retest that level before advancing which has happened with this stock.
The retest of the support/resistance area gave price some strength to the upside but then found it difficult to break through the
psychological round number £1.00.
This is not to say that price can not break through £1.00 but right now the buyers appear exhausted.
There may be another attempt at breaking through this level so we just need to wait patiently in case this happens.
The Monthly, Weekly and Daily timeframes all suggest bullish behaviour so just waiting for the right time to enter is important.
We do not want to enter too early, so once price clears the £1.00 round number there will be opportunities to trade this stock.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Please add a comment... Positive feedback and constructive criticism are important to authors and the community.
After a major area is broken we can expect price to retest that level before advancing which has happened with this stock.
The retest of the support/resistance area gave price some strength to the upside but then found it difficult to break through the
psychological round number £1.00.
This is not to say that price can not break through £1.00 but right now the buyers appear exhausted.
There may be another attempt at breaking through this level so we just need to wait patiently in case this happens.
The Monthly, Weekly and Daily timeframes all suggest bullish behaviour so just waiting for the right time to enter is important.
We do not want to enter too early, so once price clears the £1.00 round number there will be opportunities to trade this stock.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Please add a comment... Positive feedback and constructive criticism are important to authors and the community.