Greatland Gold Price: GGP Places Under Pressure, Finding Supports

PUBLISHED: 08 May 2024 @ 17:00 | Comments (0) | More info about Azeez Mustapha

The price journey so far in market activities has steadily and slowly been under the control of bears, as Greatland Gold Plc (LSE:GGP) is currently under pressure and finding support.

From a technical point of view, the pushing rate of the dropping pressures has been seen to be reaching a significant lower end. The points encircling the lines of 5 and 4.5 should hold harder against any potential attempted advances from the present trading axis of 5.8 in order to make sure that assumption plays out as intended. From the previous month to the present, a candlestick pattern seems to form bottoms just below the smaller moving average’s trajectory.

Resistance Levels: 7, 8, 9
Support Levels: 5, 4.5, 4

At this juncture, could sellers in the GGP Plc stock trade depend on its potency to go back down from around the EMAs?
Considering the placement and technical arrangement formation of the moving averages, it is not safe to go alongside any further moves in the negative direction, as Greatland Gold Plc places under pressure, finding supports.

By veering to the north from the oversold region, the stochastic oscillators have been able to place themselves around variation points 40, 60, and 80. That indicates that bulls are preparing to rebuild in the near future. The 50-day EMA indicator is situated below the 15-day EMA indicator. Additionally, it is strategically determined that they may portend the conclusion of the share market’s decline in the near future.

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