Share price of First Resources (FR SP) may have bottomed out earlier during late-Oct as
suggested by the various technical indicators. The 14-day ADX has been on a decline since mid-
Sep, implying that the downtrend has been losing steam. Also, the MACD chart has produced a
bullish moving average crossover, an indication that price action may make further gains.
Support is seen at the 0.185 – 0.19 area as depicted by the all-time lows attained during 28 & 29
Oct. On the other hand, any potential bullish price action should meet with resistance at the 0.265– 0.27 range, courtesy of the 21-day moving average and the daily high on 20 Oct.
The Material provided above is for information only and does not constitute an offer or solicitation to purchase or sell the shares mentioned
To my beloved friend CW8888
1 year ago
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