DEYAAR Technical Overview

DEYAAR Technical Overview

Searching for intraday support.

Following the formation of a new weekly bottom above 0.450 prices surged sharply and broke above 0.565, indicating towards a new Bullish stage in the long term. The break above 0.565 should have been attracted long term traders having caused a Bullish weekly trend reversal that increased odds for an extended move towards 0.625 initially. Above that level a stronger rally is expected that will probably expand beyond the 2017 top and most probably reach the 0.720 area. The medium term trend is still directed upwards and only a drop below 0.520 would initiate a deeper correction lower. So as long as the share remains above that level, medium and short term traders can monitor for any clear reversal signs and then instate some new positions to target a further rally.