Itv Plc Price: ITV Moves Down, Planning a Base

PUBLISHED: 16 Oct 2023 @ 14:57 | Comments (0) | More info about Azeez Mustapha

Itv Plc stock price (LSE:ITV) has moved down to approach the support line of 60, planning a base around the values ahead of that spot mentioned.

A noteworthy trade pattern capable of putting an end to additional free falls in the operations of the stock market was seen during the course of the last several days of transactions. Bears had the upper hand up until the current lower trading spot, coupled with the typical exchange decrease axis reached to allow bulls to restore their positions. According to those claims, it would be excellent from a technical standpoint for purchasers to begin staking positions.

Resistance Levels: 70, 72.50, 75
Support Levels: 60, 57.50, 55

Should ITV Plc traders anticipate a base development process that lasts longer than 60 days?
Even though there would be a prolonged moving process to stage around or above the support line of 60 in the transaction lines of ITV Plc shares, traders are to commence taking new position orders from the current area of trading, given that the price has dropped below the sides of the EMAs, planning a base rebuilding outlook.

The 50-day EMA trend line has crossed over to the south side of the 15-day EMA trend line, indicating that a series of depression sessions is currently happening with the intention of ending maybe soon above or near the point of 60. The stochastic oscillators have moved out of the oversold area and are now positioned between 40 and 20. According to the reading of those indications, the shorting of orders had to be put on hold until another round of an overbought condition appeared.

Learn from market wizards: Books to take your trading to the next level

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.