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Muyuan Foodstuff ST: the downside prevails as long as 78.1 is resistance
Trading Central | 2019-09-16 22:47:00

Alternative scenario: the upside breakout of 78.1 would call for 84.3 and 88.1.

Our pivot point stands at 78.1.

Our preference: the downside prevails as long as 78.1 is resistance.

Alternative scenario: the upside breakout of 78.1 would call for 84.3 and 88.1.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 75.1 and 73.14).

Supports and resistances:
88.1 **
84.3 *
78.1 **
75.6
72 (CNY-last)
63
59.5 **
55.9 *
52.3 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 09-17-2019 at 00:47 UTC+1
Price reference: 72.00 last known on 09-17-2019 at 00:47 UTC+1
Investment horizon: ST

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