Greatland Gold Price: GGP Is Descending, Tending to Delay Rallying

PUBLISHED: 09 Jan 2024 @ 20:49 | Comments (0) | More info about Azeez Mustapha

The Greatland Gold Plc stock company (LSE:GGP) has been seen positively responding to a descending moving pattern, tending to delay rallying back upward against some of the decline walls.

The bears’ depressing pace over time has created a trading environment that may not technically back several probable presumed lows that are just below the moving averages’ trend lines. The near proximity of the EMAs at the time of this research indicates that selling activity is about to move into the negative. With such a signal in place, purchasers need to be informed of a potential bounce and able to take advantage of it.

Resistance Levels: 10, 11, 12
Support Levels: 7.50, 7, 6.50

Should sellers count on the probable consolidation movement to the south as the GGP Plc stock is priced around 8.50?
Bears may continue to affirm their stances through consolidation while an active falling force appears to take place below the trend line of the moving averages, given that the GGP Plc is currently descending, tending to delay rallying.

The 50-day EMA indicator is touched at the top by the 15-day EMA indicator’s southerly curve. The oversold area has been reached by the stochastic oscillators. A second round of candlestick formation has been used to highlight a base 8. Purchasers should be cautious, as it has been psychologically predicted that the market will move south systemically from the baseline at 8. For a while, there will probably be ups and downs between 10 and 8.

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