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From the perspective of most indicators, it has been demonstrated that Card Factory Plc stock operations (LSE:CARD) will soon be losing velocities to the upside, given that the price has hit resistances around 100 trade zones, contemplating a correction in the wake of a current bearish candlestick formulating in the making.
The current price structure suggests a heightened probability of further downside, as indicated by the prevailing bearish alignment of the moving averages—reinforcing the ongoing profit-taking dynamics. Concurrently, momentum oscillators are exhibiting confirmation signals that advocate caution among buyers, implying a potential pause in upward engagement is warranted.
Resistance Levels: 105, 110, 115
Support Levels: 85, 80, 75
Is a breakout above the EMA cluster a valid technical re-entry signal for CARD Plc?
If there will be a full resurface of a full bullish candlestick to emerge in a way to engulf most candlesticks already formed initially above the moving averages subsequently, the potential pushing force may be in favor of seeing the stock market appreciating further, as the financial situation shows that the price has hit around 100 recently.
The 15-day EMA remains positioned above the 50-day EMA; however, a prominent bearish candlestick has breached both averages to the downside, driving the market toward a lower valuation around 91.20 at the time of analysis. The southward alignment of the oscillators reinforces the presence of a prevailing retracement, signaling that buyers should exercise caution before re-entering.
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