Remote Monitored Systems price: RMS going southwards again?

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Remote Monitored Systems Plc. shares (LSE:RMS) have started going southwards again, following the recent bullish attempt, which proved abortive. The bearish movement may become more serious as price plays itself out.

From June to September 2020, price was in a strong base, consolidating tightly, before the massive bullish breakout in October 2020. Price became very volatile as bulls and bears got engaged in a maniacal battle. Recently there has been a noticeable bearish threat in the market, which started after the high of 6.50 was tested.

Price is currently hovering above the EMA 21, and would most likely breach it to the downside. The William’s % Range period 20 is going towards the oversold region, and it is expected to fall below the level -80.

The possibility of RMS going further southward is greater than its possibility of going northwards. The support zones to be, hopefully, reached are 2.50, 2.00 and 1.50 before the middle of 2021.

 

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