Anglo Asian Mining Plc Price: AAZ Makes a Base, Setting for Bounces

PUBLISHED: 08 Nov 2023 @ 03:19 | Comments (0) | More info about Azeez Mustapha

A series of lows has been recorded in the market valuation of the Anglo Asian Mining Plc shares (LSE:AAZ), given that price makes a base, setting for bounces against the psychological line of 60.

The northward-curving cross of the stochastic oscillators indicates the capacity pace of the recovery process has been triggered by the buying frenzy that occurred recently. A confirmation of steady increases will come from a cross of the larger moving average by the smaller moving average to the upward. The growing tensions that have extended above the 40 support line are to be utilized by shareholders as leverage.

Resistance Levels: 80, 90, 100
Support Levels: 40, 30, 20

Is the 40 support line going to be the pivotal milestone in the AAZ Plc stock price against the bears?
The support line of 40 is likely to act as the critical zone against any possible reversal forces to the downside, as the Anglo Asian Mining Plc stock makes a base, setting for bounces.

From the oversold area, the stochastic oscillators are moving northward and into the overbought area. When the 15-day EMA indication is positioned beneath the 50-day EMA indicator’s point, it curves somewhat. Above the moving averages, a bullish candlestick has developed, indicating that longing holdings are about to recuperate and move toward higher values.

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