DEYAAR Technical Overview

DEYAAR Technical Overview

Bullish reversal above 0.540.

The break below 0.500 weekly resistance has opened the way for extended losses where the market reached 0.450 before bouncing off this strong demand level. And with the market showing signs of resistance below 0.550, market players shall hold no positions at the time being. On the other hand, even though the share posted some major gains lately, the short term structure is still somehow Bearish. Only a sustained rise above 0.540 could strengthen the upside momentum and give hope to a forthcoming rally that might extend beyond previous highs. While failure of the share to remain above 0.495, will provide an early sign of return of medium term Bearish momentum.