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Turkish Stock VKING Technical Analysis VKING stock has a good fundamental background and the owner is one of the richest families in Turkey. The company produces paper, mainly kitchen papers and paper towels which has good sell potential in the time of pandemia. Technical analysis shows a fine bullish trend starting from march. The main support and resistance areas which are now being active are 5 and 7.50 and 6.25 is a minor critical area. 6.25 is now a consolidation are and kind of a support for this stock but there is also a fibo retracement level which might be a good buy point the 0.618 retracement level (5.78) and that might also be a test for the trend line and a good support for the bullish move to continue its movement in the following weeks and in the long run may test the 10 lira resistance.
BIST:VKINGLong
by alicanuz
2
GOING BACK TO NORMAL AFTER AUTUMN ATTACK - GLYHO - WEEKLYThank you for your likes and shares! Much Appreciated! _________________________________________________________________________________ The Global Yatirim Holding Shares Price Evolution Is Very Interesting And Shows How To React To Surprises! Be careful this green line is probably not very solid support, it can break at anytime. The black line possibly acts like a gravity center price line. As you can see we traced vertical lines of the previous super fall and reported that line to the recent super squeeze of buyers. We have here probably a vision on the elasticity of the market. Like when you stretch an elastic and it comes back. Between 28/09 and 3/11, it was probably the moment during the year when big actors where the most active to win the fight against smaller traders. Many have probably lost money during that period. That is when it is good to know when to cut losses and wait for better day. We are probably back to normal market shape and are waiting for a break of the new channel to enter in the market. Looking for short direction trades opportunity will possibly be clever. From last post, you can see that we just extended the lines, there no coincidences. Last time we said: """ Beware, possibility of continuous uptrend then a pullback down from the red line. Other possibility is a market fear which could lead to a brief retreat to the down red support """ What happen next is exactly this scenario, we have seen the market going down very strongly with high volumes involved, this to squeeze seller and then run up alone to reach new highs, breaking then one after the other. At the end of the run on the top squeezing very violently the remaining happy buyers who are now holding on very RED positions. What is happening next? When those people will liquidate to limit loses the market probably will go back up again and the same story, new big actor comes, see the opportunity and push help them by squeezing up and the market possibly retracing to the black super strong resistance line. Have this scenario for next traded on GLYHO. Happy End of Year!
BIST:GLYHO
by Diallo_Charts_Ideas