This stock has begun another strange movement!
By
Azeez Mustapha
PUBLISHED:
30 Aug 2020 @ 18:18
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More info about Azeez Mustapha
Aa Plc stock (LSE:AA.) has begun another strange movement, following its most recent bullish attempt. The market dropped seriously in April 2020, moved sideways until August, broke upwards and moved sideways, only to threaten a bearish movement again.
This strange movement can result in a bearish signal once price breaches the upper Trendline to the downside and the RSI period 14 goes below the level 50. That would mean a bearish signal. However, in case price does not go below the upper Trendline,, and moves upwards instead to breach the resistance level at 40.00 to the upside, that would mean a clean bullish signal, especially when the RSI turns upwards and aims at the overbought region.
Whatever happens this week will determine what will happen to AA., whether it would go bullish or bearish. But right now, the market looks strange.
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