Aa Plc stock (LSE:AA.) has begun another strange movement, following its most recent bullish attempt. The market dropped seriously in April 2020, moved sideways until August, broke upwards and moved sideways, only to threaten a bearish movement again.
This strange movement can result in a bearish signal once price breaches
the upper Trendline to the downside and the RSI period 14 goes below the level
50. That would mean a bearish signal. However, in case price does not go below
the upper Trendline,, and moves upwards instead to breach the resistance level
at 40.00 to the upside, that would mean a clean bullish signal, especially when
the RSI turns upwards and aims at the overbought region.
Whatever happens this week will determine what will happen to AA., whether
it would go bullish or bearish. But right now, the market looks strange.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha
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