Scancell Holdings Price: SCLP Settling for an Upsurge, Basing Above 8

PUBLISHED: 04 May 2024 @ 19:14 | Comments (0) | More info about Azeez Mustapha

In sequence to a long path of corrections from around the value line of 12, Scancell Holdings Plc shares (LSE:SCLP) have now been seen to have been settling for an upsurge, basing above the spot of 8.

Although the smaller moving average trend line is trending closely on top of the attempted price recoveries, buyers appear to be making an effort to push back higher from the line of 9. Variant indications are demonstrating that attempts by the price to support more drops are probably not going to produce consistent signals. If that assumption is correct, then, in order to prevent trustworthy entry positions, a strong bullish candlestick has to form across the smaller moving average.

Resistance Levels: 12, 13, 14
Support Levels: 8, 7, 6

What is the current price movement of the SCLP Plc stock in relation to the positions of the EMAs?
The price movement in the market operations of Scancell Holdings Plc is still observed as being relatively bearish, reaching a maximal lower zone to possibly end further reductions, given that the stock market is settling for an upsurge, basing above the line of 8.

Since the market was unable to break over the 12-day resistance line in February and March, the 15-day EMA indicator has been forced to cross the 50-day EMA indicator. The stochastic oscillators are currently moving southward into the oversold area in an attempt to increase the likelihood that the trade will make strong gains in the near future.

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

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.