Sound Energy Price: SOU Attempts Upsurges, Following a Base Acquisition

PUBLISHED: 21 Sep 2024 @ 18:38 | Comments (0) | More info about Azeez Mustapha

Recently, about a few days ago, the Sound Energy Plc (LSE:SOU) shifted slightly below 0.8 to average 0.6 before it now attempts upsurges after finding a base formation above the former support trade value.

Before steady rallies, investors may safely start using variant staking procedures when two bullish candlesticks with about equal sizes appear below the moving average trend lines. In the event that purchasers attempt to step up their efforts in the near future, the top of the candlesticks is seen to generate favorable conditions.

Resistance Levels: 0.9, 1, 1.10
Support Levels: 0.6, 0.5, 0.4

Now that the candlesticks are forming inside the 0.8 or 0.6, which point should the SOU Plc investors be cautious of?
The trade line that could be challenging between 0.8 and 0.6 the operations of Sound Energy Plc stocks are being carried out within is the lesser one that is acting as the key support spot, given that the price has attempted upsurges, following a base formation.

The 15-day EMA trend line is underneath the 50-day EMA trend line. Additionally, their positions are above 0.8. At the time of writing, the stochastic oscillators were observed veering towards the north, reaching a location approximately at 40. Given the state of the market right now, stakeholders may attempt to add to the positions they have just acquired.

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