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Suzhou Gold Mantis Construction Decoration Co ST: the RSI is overbought
Trading Central | 2019-02-12 09:23:00

The configuration is positive.

Our pivot point stands at 8.5.

Our preference: the upside prevails as long as 8.5 is support.

Alternative scenario: the downside breakout of 8.5 would call for 8.2 and 8.

Comment: the RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 8.24 and 8.43). Finally, Suzhou Gold Mantis Construction Decoration Co is trading above its upper Bollinger band (standing at 8.78).

Supports and resistances:
10 **
9.8 *
9.6 **
9.5
9.04 (CNY-last)
8.6
8.5 **
8.2 *
8 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 02-12-2019 at 10:23 UTC+1
Price reference: 9.04 last known on 02-12-2019 at 10:23 UTC+1
Investment horizon: ST

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