Innovaderma
stock (LSE:IDP) is in a downtrend, which has been in place since September
2017. Further downward movement is expected.
The market
has gone below the EMA 21, while the Williams’ % Range period 20 is around the
oversold region.
Price has
gone seriously downwards and it is currently below the resistance level at 280.
While
there could be attempted rallies along the way to the south, they are expected
to be transitory as price would go further downwards.
The signal
on Innovaderma is a SELL one and price may reach the support levels at 200, 175
and 150 within the next several months.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Traders’ Mindset: Traders' Mindset
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