Greatland Gold Plc shares (LSE:GPP) are currently bearish and the price would move further downwards. It is not advisable to go long in this kind of market.
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 part of the chart.
All the EMAs are sloping downwards. From March to June 2022, price went steadily south. It made some desperate bullish effort in July, but further upward movement was rejected around the EMA 200, which has effectively prevented a bullish signal from being generated. Price has plummeted since then, almost going below all the EMAs…
While bounces into the EMAs 10 and 20 cannot be overruled, GGP is expected to go further downwards, reaching the demand areas around 9.00, 8.00 and 7.00.
Market Analyst, Trading Signals Provider and Coach
Teach Yourself Technical Analysis: https://www.advfnbooks.com/books/techanalysis/index.html
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