ARTC Technical OverviewPosted on Wednesday, December 20 2017 at 5:40 am GMT+0000
Odds for a further correction decreased.
With the long and medium term charts having strengthened the negative picture with the break below the previous 52- week low, traders are advised to remain on the sidelines and wait for an indication of a bottom before attempting to target a stronger correction. Short term Bullish momentum has eased and the share slipped below 2.41 opening the scope for a re-test of 2.30. Any further break below 2.30 will cancel any Bullish short term scenarios and confirm the share’s intention to continue to lower levels. Only a break above key resistance at 2.50 can restore the short term uptrend.