Technical Analysis: ISR Capital Limited October 11, 2016 19
ISR Capital Ltd – Daily timeframe (Update from 31 May 2016)
Current Sentiment: Bullish
Support 1: 0.230 Resistance 1: 0.275
Support 2: 0.200 Resistance 2: 0.285
Price soared into new heights after breaking significantly above the 0.125 resistance area on 14/09/16.The current uptrend remains strong as price went into correction mode since 20/09/16, forming a pennant formation. Moreover, a near term base was formed near the 0.230 support area where price bounced off that area repeatedly. In addition, there was a bullish break with increasing volume above the pennant formation on 10/10/16 signaling the resumption of the uptrend next.
Expect price to head higher next to test the 0.275 resistance area followed by 0.285.
Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!
Featuring regular TA posts and requests to analyse specific stocksAbout the author
Jeremy Ng
Research Analyst
Phillip Securities Research Pte Ltd
Jeremy specialises in Technical Analysis and has 10 years of experience in studying price action. His areas of expertise include intermarket analysis on the equities, currencies, commodities and bonds market.
He is also a regular columnist on The Business Times - every Monday ChartPoint column.
He graduated with a Bachelor of Science in Banking and Finance from University of London.