Stock analysis is a term that refers to the evaluation of a particular trading instrument, an investment sector or the market as a whole.
Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. Kijun-sen and Tenkan-sen lines have become support (51.03) and resistance (51.28) levels respectively
On the four-hour chart we can see a correction of the upward movement. On the daily chart the Bullish trend is still strong. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (53.42) line and Stop Loss at the level of Kijun-sen line (50.85).
|Key Levels||49.67, 50.85, 53.42, 53.54|