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
Traders’ Mindset: Traders' Mindset
