ITV PLC stock (LSE:ITV) are currently bullish, following the recent
rally, which ended the previous bearish movement that happened in August 2019.
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 corner of the
chart.
It can be seen that the EMAs 10, 20 and 50 are already sloping upwards,
supporting the current bullish movement. However, the EMA 200 is yet to be
breached to the upside… And that is exactly what is expected.
Once this is breached – a Golden Cross – is made, there would be an unopposed
bullish bias on the market. Right now, it still makes sense to go long on ITV,
for the current rally will hold on.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
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