Our expectations:
Share price rises supported by good market fundamentals and confirming technical analysis. We are observing a long-term upward trend, with over 200 and 50 daily average moving average. After some correction to a successful 200-period test, the price rises again. At the moment we have a double-bottomed figure and a Fibonacci pierce level of 23.6.
First possible entry:
Aggressive entry at current market price when breaking the line of the figure. Stop loss at 148.21.
Second possible entry:
Conservative. We wait to see if the price closes above the last peak and line of the figure, a retest, and then find a long position.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
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Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
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Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.