IMPORTANT RESISTANCE LEVEL : 22.5
TARGET : 31/42
VIEW CHANGES BELOW : 16
TIMEFRAME : 4 months / 18 months
Mercator Lines had recently broken out above 16 on the weekly charts which is where its 55 week moving average was
trading at. The Scrip is trading in a clear uptrend with a trading and investment point of view as its moving average setup
that was previously in a bearish setup has also now started indicating signs of revival with the 21 week EMA crossing over
55 EMA. Any move down in this scrip now can be bought into with an investment point of view and a fresh uptrend in the
scrip may be triggered once the scrip moves beyond 22.5 which is where a trading resistance is present.
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TARGET : 31/42
VIEW CHANGES BELOW : 16
TIMEFRAME : 4 months / 18 months
Mercator Lines had recently broken out above 16 on the weekly charts which is where its 55 week moving average was
trading at. The Scrip is trading in a clear uptrend with a trading and investment point of view as its moving average setup
that was previously in a bearish setup has also now started indicating signs of revival with the 21 week EMA crossing over
55 EMA. Any move down in this scrip now can be bought into with an investment point of view and a fresh uptrend in the
scrip may be triggered once the scrip moves beyond 22.5 which is where a trading resistance is present.
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