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Serica Energy Plc stock (LSE:SQZ) is currently in an uptrend and that is expected to continue in spite of the current pullback (which is shallow anyway). This bias on the market has often been bullish and that has remained unchanged.

 

The market is currently above the upper Trendlines, and as long as it does not violate the lower Trendline, even after dropping in between the 2 Trendlines, the bullish bias will remain valid.

 

The RS1 period 14, though currently sloping downwards, is expected to turn upwards again, and this expectation will remain logical as long as the RSI does not breach the level 50 to the downside.

 

SQZ was generally bullish from July 2021 till now, irrespective of the bearishness that was witnessed in late October and early November. The bias remains bullish in spite of any pullbacks along the way. The targets are around the resistance lines at 300.00, 350.00 and 400.00.

 

 

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