Plexus Holding shares (LSE:POS) are expected to decline further.
Although the price has been consolidating to the upside in the last few months,
the overall bias on the market is bearish, plus the Death Cross effect is still
in place.
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 at the top left part of the
chart. Since March 2016, the price has been consolidating to the upside, but it
has not been able to stay above the EMA 200 (a good example of the vulnerability
of the upside consolidation).
Long positions are not recommended until the price crosses the EMA
200 to the upside - which would require a serious selling pressure. In fact,
further decline on Plexus Holding could take the price towards the support
levels at 60.00 and 50.00.
This forecast is ended by the quote below:
“If a
company has a lot of cash in the bank and no debt, then it's not going to file
bankruptcy anytime soon.” – James Altucher
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders
Don’t Want You To Know: Super Traders
Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng
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