Technical Pulse: Delfi Ltd May 14, 2019 257


Current Sentiment: Bullish

Support 1: 1.30                     Resistance 1: 1.49

Support 2: 0.98                     Resistance 2: 1.64

Although Delfi has no significant higher low and higher high to form an uptrend, all the technical factors are pointing towards a bullish sentiments.

  • Inverted head and shoulder pattern formed. This is a classic sign of a bullish reversal pattern.
  • Prices has been rejecting the right shoulder’s psychological support of 1.30 and it has been tested twice. Yesterday the market confirm its bullish rise by closing with a strong bodied candle.
  • In addition, last Thursday and Friday’s candle has rejected the 200 simple moving average. A sign of uptrend confirmation.
  • RSI has shown a bullish divergence. A stong bullish momenteum.

*Should the price falls below the support of 1.30 and traded lower for more than 5 consecutive days, the whole bullish call will be invalidated as the inverted head and shoulder is no longer valid.

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 stocks
Click to join!
Notify of
Inline Feedbacks
View all comments

Get access to all the latest market news, reports, technical analysis
by signing up for a free account today!