Ashtead Group plc shares (LSE:AHT) have made a renewed bullish effort, after the recent pullback in the market. The overall bias is bullish, although that is fraught with bearish corrections along the way.
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 in the top left part of the chart.
The EMAs are generally sloping upwards, though price is currently below the
EMAs. It is expected that price will go above the EMAs soon, as the bullish
momentum returns.
Once the price goes above the EMAs, things would remain really bullish and bright. That is the bias on ATH for the next months. Thus the supply zones around 6,250.00, 6,500.00 and 6,700.00.
Market Analyst, Trading Signals Provider and Coach
Teach Yourself Technical Analysis: https://www.advfnbooks.com/books/techanalysis/index.html
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