Supply@me Capital Price: SYME Converges, Facing a Correction

PUBLISHED: 04 Jul 2023 @ 21:35 | Comments (0) | More info about Azeez Mustapha

The Supply@me Capital Plc stock exchange company (LSE:SYME) converges, facing a correction at a slow pace.

Sellers have been finding breaking to the downside difficult around the support level of 0.11. There have been situations indicating that buyers won’t survive staying afloat over the resistance line of 0.14. As a result, we are of the opinion that investors would need to be pulling off profits from the value line before a major decline surfaces to create a sustainable path afterward.

Resistance Levels: 0.15, 0.16, 0.17
Support Levels: 0.10, 0.09, 0.08

In light of the EMAs, what are the primary resistance lines for the present SYME trade?
There have been variant rejection signs depicted by a series of candlesticks in the SYME Plc share market, given that the price converges and is facing a correction mode.

The 50-day EMA indicator is underneath the 14-day EMA indicator. The Stochastic Oscillators are in a southbound-crossing position between the 80 and 40 levels. It appears that shorting exercises have been finding a way around the trade area identified as the confluence axis. Times may be prolonged toward securing a stronger resistance stance that can eventually lead to the crossing of the EMAs to the descending route for the affirmation signal.

Learn from market wizards: Books to take your trading to the next level

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).

Follow @ItuGlobal

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.