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POM.FR - Good levels for Long Positioning with Trend

Varchev Finance - POM.FR expectations

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POM.FR - Weekly

Our expectations: The price is on an upward trend, and the latest corrective wave gives us a good opportunity to hold long positions for long-term investment. SL: 30.16.

Alternative scenario: If the price passes below the support area and stays there, the positive scenario will be spoiled and more likely to observe a decline in the stock price.

Comment: The price is on an upward trend, with the latest corrective wave reaching support zone formed by a basic diagonal, horizontal support zone, 38.2% Fibonacci core trend correction, and 200SMA. 50 and 200SMA remain beached - the trend remains in place. RSI (14) is coming out of the over-sales area - a correction wave ending signal and a likely upward trend.

Entry from the current levels gives us a good risk/return ratio and will be suitable for entry by risky traders. However, in the event of a repeat test, the ratio will rise significantly, and then the conservative traders will press the button.


 Trader Petar Milanov

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