Blackbird Price: BIRD Finds a Base, Attempting a Rebound

PUBLISHED: 25 Apr 2024 @ 21:43 | Comments (0) | More info about Azeez Mustapha

Recently, market reactions to the downside have been observed, breaking through a line at 6 before bulls are now putting their weights together, given that Blackbird Plc (LSE:BIRD) currently finds a base, attempting a rebound above the value of 5.

In order to create impulses that can push northward past the smaller moving average, the rebounding efforts have been composing positive postures. By feeding any catalysts following further active motions in the near future, the line of 6 appears to be the crucial barrier zone that long-position pushers would have to exert muscles while the price eventually tends to approach it.

Resistance Levels: 6.5, 7, 7.5
Support Levels: 5, 4.5, 4

As the stochastic oscillators swerve northward, what is the state of the BIRD market right now?
It has been depicted by the stochastic oscillators, the forces to the upside are nearing a level where they may not be freely pushing northbound, given that the price finds a base close to 5, attempting a rebound.

A line of bullish candlesticks have been forming a shape that is ideally to cross the 15-day EMA trend line toward the higher spot of 6 where the 50-day EMA trend line is located. The stochastic oscillators have just broken through the overbought area, it is likely that purchasing gravity will pause for a while before regaining the necessary upward momentum.

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