DEYAAR Technical OverviewPosted on Wednesday, March 7 2018 at 5:42 am GMT+0000
The long term trend remains in an uptrend following the Bullish reversal activated in January. However, following the recent corrective wave on the weekly timeframe, a break below the 0.565 level is warning of weakness in the new Bullish structure, as the share searches deeper for a strong support. Stronger signs of support above 0.470 are needed before confirming the possibility of an extended rally above the previous high at 0.605. At the current time, the medium term outlook has become neutral and the short term is still weak, and thus stronger technical setups are needed before any trading scenarios can materialize.