Samsung
Timeframe: D1
Technical analysis: The chart shows that the stock price was moving in a downward trend channel. On 04/09/19 it was able to break through the resistance by heading north again for a test of previous peaks. Currently, the stock is again at such strong resistance at the level of 47150, as of now it is key.
If the price manages to break through the aforementioned resistance, then we can see a prolonged rise as the first resistance will be at 61.8% Fibonacci.
If the price fails to break the resistance then it will go south again for a test of the previous resistance (already support) at 38.2% Fibonacci.
Fundamentally, the price of the stock should continue its rise, as the holidays approach, and they can increase purchases of goods from this company.
Indicators: At this stage 50 and 200 periodic floating averages play the role of price support as we also have a gold intersection.
RSI forms a divergence and is close to its redeemed values. This does not support purchases from these levels.
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