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Rameez

12,255 Posts.

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23/12/20

23:18

Post #: 49793148
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Originally posted by Patterns: ↑

FRX 2.2 weekly shows a pullback to test the 50sma and the demand level for support. I think the doji on the 50sma with a small green body might be where price reverses and moves higher.The 8ema is above the 50ema and this usually leads to significantly higher prices. Price should now head up and test the 200sma at around the 5 cent mark.
FRX 2.2 daily shows a pullback to test the 200sma for support and a line break of the upper trendline. Price is currently below the 50sma and below the 8ema which is a sign of weakness. Price needs to push above the 8ema and the 50sma but the sellers have been in control capping price while their mates accumulate cheap shares at these levels.
It is the sellers at 2.5 cents that are capping any price rises.

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Thank you so much for conveying your charts and opinion Patterns.
Very much appreciated.
Ramma.
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