Touchstone Exploration price: Could this be an opportunity to buy TXP cheaper?

Touchstone Exploration Inc. shares (LSE:TXP) has just experienced a pullback amid some bullish effort. The bullishness started in September 2021, ending the trendless period that preceded it.

 

The RSI period 14 is currently below the level 40, which means a “sell” signal. However, price itself remains between the upper and lower Trendlines. If price goes below the lower Trendline, that will validate the RSI signal, for a sell trade. If not (price goes above the upper Trendline), the sell signal will be invalidated.

 

In that case, the RSI would have to generate a “buy” signal by moving above the level 60, which would simply give an opportunity to buy TXP at a cheaper price.

 

Market Analyst, Trading Signals Provider and Coach

 

Teach Yourself Technical Analysis: https://www.advfnbooks.com/books/techanalysis/index.html