Tern Price: TERN Swings High, Tends to Average Resistance of 5

PUBLISHED: May 13 2024 @ 09:32 | Comments (0) | More info about Azeez Mustapha

Following a successful rise in stock activities during the early session of April while the price moved upward against the point of 2, Tern Plc Company (LSE:TERN) presently averages the resistance line of 5.

Since the market was able to turn positive throughout that month, a purchasing frenzy has gone on to breach resistance levels three and four. Until further notice, new buying order positions may be stopped based on the recent bullish-like candlestick’s minor price reversal signal.

Resistance Levels: 5, 5.5, 6
Support Levels: 3.5, 3, 2.5

Does the TERN Plc stock need a pull down to garner a catalyst toward breaching past the resistance of 5?
From the technical point of view of the stochastic oscillators, it is established that an overbought reading condition has been spotted to deter the free entry of more longing positions, given that Tern Plc stock operation swings high and tends to average resistance of 5.

The 50-day EMA trend line has been effectively intercepted by the 15-day EMA trend line, putting bullish candlestick variants beneath it to suggest that bulls are in charge of the price moves. The stochastic oscillators have been moving in a consolidation-style manner while in the overbought area. This suggests that bulls should rationally minimize their trading myths in order to obtain more consistent rises from the current exchange zones.

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.