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Wednesday, November 9, 2016

Redcentric Massive Sell-offs

Redcentric shares (LSE:ENC) have been sold massively in a recent huge selling pressure. Price consolidated from the months of July to October, 2016, and started to move south gradually in October.

Right now, price has gapped below the lower Trendlne, moving briefly below the support level at 50.00, before bouncing upwards a little. The RSI period 14 is already in the oversold region, which means, while there could be transitory rally attempts, price is expected to drop further.

Redcentric has the potential to test the support level at 50.00 again, and then the support levels at 45.50, 44.00 and 43.00.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Super Trading Strategies: Super Strategies   
  


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