See what this “crazy” stock is doing now!

Share On Facebook
share on Linkedin
Print

Polarean Imaging Plc shares (LSE:POLX) are currently in a serious bearish mode. Price was essentially flat from May 2021 to September before the current collapse in the market, which we are currently experiencing.

4 EMAs are used for this analysis and they are EMAs 10, 20, 50, and 200. The color that stands for each EMA is shown at the top left part of the chart.

Owing to the sudden, surprise dump we see in the market, things have suddenly become bearish. The EMA 200 has had the price go below it – an even that has cleanly resulted in a Death Cross. Further downward movement is expected in the market.

Unless price goes above the EMA 200 and later, above the EMA 50, going long in this market would not be prudent.

The outlook on POLX is bearish for the rest of this year and the support levels at 40.00, 35.00 and 30.00 can still be tested within the next several months.

Teach Yourself Technical Analysis: Teach Yourself Technical Analysis

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20211205 14:37:55