Plexus Holdings Plc shares (LSE:POS) have been banned from the distribution territory at 10.00, so to speak. Price has been trending downwards since the past several months, and this is a scenario that will hold out for the long-term.
The ADX period 14 is at the level 40 (signifying a serious momentum in the
market), and the DM+ is far above the DM-, meaning bears hugely prevail over
bulls. The MACD default parameters, has its signal lines and histogram above
the zero line.
There is a Bearish Confirmation Pattern in the market. The outlook on POS is dismal and price will continue to drop further towards the accumulation territories at 2.00, 1.50 and 1.00 eventually.
So could POS ever reach the distribution territory at 10.00? That would take a minimum of 10 years to happen, if possible at all. The price has been banned by bears, from reaching the upside territory at 10.00, and the chances of reaching the territory are extremely slim. Thus, the ban would be in place until that distribution territory is breached to the upside (in a distant future). That is when the technical ban could even be lifted.
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