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SYSTEMS LTD

SYS | Parallel Channel VS Support Level

By mbaberhanif
Updated
There are two possible scenarios in SYS technical chart, either it follows parallel channel or pull back from its current support level.
Note
SYS facing resistance around 458
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break out of parallel channel is observed, weekly closing must be above the channel for any bullish momentum.
Note
After the observed breakout on the SYS technical chart, a flag pattern appears to be forming. A breakout above its previous peak of 520 is required, with a projected flag target around 565.
snapshot
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Flag projection lies around 565
snapshot
Chart PatternsTechnical IndicatorsTrend Analysis
mbaberhanif

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