RE: Stage Analysis Beginners Questions
Would somebody be able to just have a quick glance to see if I have analysed this chart correctly.
Firstly, the stock is ever so slightly underperforming on its 30MA, the 7MA (As i couldn't get the 10) is slightly declining.
Volume is increasing in the last month massively, however it seems to be slightly more sellers than buyers.
It is just above the MRS Trend.
In terms of resistance, i'm a bit unsure of where to judge it from, the stock seems to have been in Stage 2, broke down and hit a slump in Jan '19 and started to consolidate from there. The previous resistance I think is around 3892.
The support seems to be around 2350- ish. I'm half tempted to take a small position if it can get near it's 10MA and then take a stronger position if I see higher volume in the buyers side? I realise i've cut off the header, its British American Tobacco Company trading on LSE.