Insterserve
stock (LSE:IRV) has gapped downwards seriously and further downwards movement
is expected. Strong volatility will follow the gap-down.
Before the
gap-down, price was a kind of consolidating. In August, price moved below the
lower Trendline, eventually gapping downwards in September. The RSI period 14
is now in the oversold region. There could be some bullish effort (which would
be transitory, however).
Interserve
should continue going downwards within the next several months, reaching the
demand levels at 102.00 (which has been previously tested), 101.00 and 100.00.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Traders’ Mindset: Traders' Mindset
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