DEYAAR Technical OverviewPosted on Monday, October 9 2017 at 4:45 am GMT+0000
Short term downtrend under threat.
Medium term charts continues to reveal a clear Bearish outlook, with the share reaching the second target of the Bearish swing activated below 0.511 and a stronger correction had become possible before a further continuation to previous lows. The formation of an intraday bottom on the hourly charts outlined at 0.492 has placed the short term downtrend under threat. With the previous intraday top at 0.505, a break above the level will signal intraday reversal pattern and initiate a further rally targeting 0.511 and perhaps 0.524. However, failure to convincingly break above 0.505 would direct the share back towards a retest of 0.492, below which odds for a retest of the May low of 0.450 would be strengthened.