SIF Oltenia shares price reached the Fibonacci retracement level of 61.8% reported to the entire decline from March-October of the last year.
The entire area between 1.3240 and 1.4500 RON levels represents a resistance area but, this doesn’t necessary assume a trend reversal; it’s just an investors attention for a precautious attitude.
The price evolution from the last 4 months shows the framing into an upward channel and the last session rise led the price closer to the upper limit of the channel that is the T2 trend line.
On very short term (few days) the first support is given by the 1.3240 RON level and the resistance is at 1.4500 RON level.
No comments:
Post a Comment