Blackbird Price: BIRD Pauses, Eyeing Key Support

PUBLISHED: 12 Feb 2025 @ 07:38 | Comments (0) | More info about Azeez Mustapha

The periods of inactive price movement, as demonstrated by bulls over several sessions in the stock trading operations of Blackbird Plc (LSE:BIRD), have resulted in a price pause, with the market eyeing key support.

A bearish candlestick formation has emerged, signaling a lack of upward momentum for BIRD Plc stock in the near term. However, if the market reverses and establishes consistent lower highs along the moving average trend lines, a strong support base will be formed, setting the stage for potential long positions to develop.

Resistance Levels: 5.5, 6.5, 7.5
Support Levels: 4, 3.5, 3

Is it feasible for BIRD Plc sellers to drive the price below 4 in the long term, with EMAs remaining above?

Technically putting things in perspective, it is not inclined for sellers to dwell long below the moving averages, seeing that the trade capacity level has been held over a long time, given that the Blackbird Plc shares offering company pauses, eyeing key support toward point 4.

The current bearish candlestick suggests a lower trading value of 4.5, with the 15-day EMA positioned below the 50-day EMA, indicating downward pressure. The stochastic oscillators have moved southward into the oversold zone, nearing the 20 line. That points to a potential accumulation phase for the stock, setting up for possible rebounds in the near future.

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