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Monday, September 18, 2017

Purplebricks Group May Remain Strong

Purplebricks Group shares (LSE:PURP) may remain strong in spite of the current pullback it is experiencing in the context of an uptrend.

In the last several months, price has been in an uptrend. 4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown in the top left part of the chart.

Until recently, the EMAs were sloping upwards: even the recent downwards slope represents a correction which may possibly lead to a clean opportunity to buy long at a better price.

Unless the EMA period 200 is broken to the downside (a Death Cross), Purplebricks Group price is expected to go upwards from here


Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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