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There has been an upward-moving maintenance in the investment company as the Blue Star Capital Plc stock market (LSE:BLU) prepares to resume a retracement cycle. The investment status has been able to breach a psychological point around the 20 lines to hit resistance around the 30. It appears that the price needs to resort to a necessary correction to abide by the principle of equity. Therefore, shareholders may have to cash out part of their positions and resettle for a rebuying pattern at a lower-trading spot afterward.
Resistance Levels: 0.30, 0.35, 0.40
Support Levels: 0.20, 0.15, 0.10
Should investors still hold positions over the BLU technical indicators’ buy signal side beyond 0.30?
It would be highly unethically technical to launch fresh long positions around the 30 trading line as there has been a rejection around it to warrant a resumption of a retracement cycle. The 15-day EMA indicator is at 0.228054 above the 0.188385 of the 50-day EMA indicator. The Stochastic Oscillators are in the overbought region, with their lines crossed slightly in the southbound direction. That implies that a pit stop may play out around the 0.30 resistance level. And the verdict remains that bulls are potentially liable to shift their stance back to the downside
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