Pantheon Resources Price: PANR Extends Lowering, Searching for a Baseline

PUBLISHED: 05 Aug 2024 @ 15:23 | Comments (0) | More info about Azeez Mustapha

It has been demonstrated that selling forces have steadily been upheld in Pantheon Resources Plc (LSE:PANR), as the stock market searches for a baseline.

Recently, the market line at 20 had been the critical support trade zones that expectations were raising that bulls would make a comeback. But, a long line of price ranges that featured eventually got weakened, giving a breakdown of the spot letting the stock market to trade presently around 15 lines. In the meantime, the dipping process seems to be reaching ideal lower zones that investors might have to technically commence staking positions.

Resistance Levels: 20, 25, 30
Support Levels: 12.5, 10, 7.5

At this time, the shares of PANR Plc are trading around 15, so what is the trending perspective of the EMAs?
The trending technical point of view of the moving averages currently showcases that some ideal lower levels have been observed to attract investment approaches as the Pantheon Resources Plc stock market extends lowering paces beyond 20, searching for a baseline.

The 50-day EMA trend line is above the 15-day EMA trend line, indicating a bearish outlook for the current price movement trajectory. The stochastic oscillators are moving in a consolidation pattern as they have entered the oversold area. And they seem to have touched the zero zone, suggesting that sellers are on the verge of exhausting their weights on the market in the near future once a bullish candlestick emerges.

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