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Mercialys: Multiple signals for increase

MERY.FR D1 Our expectations:

Multiple signals for increase. Breakthrough a short trend channel followed by a successful test. Activated inverted head & shoulders formation for increase above the resistance zone. Break and test of the neck line.

Break of diagonal resistance, break above previous high.

Price action: Activated inverted Head & Shoulders for long.

The indicators give mixed signals but they follow the price movement.
Test of 23.6%. The price is holding below.
Gold Cross of Moving Averages. Price under 50 and over 200SMA. Mas stacked in a bullissh formation.
DeMarker is oversold.

SL: 11.20.

Alternative Scenario: If the price return again in the bearish Trend Channel, the short trend most likely will continue.


 Trader Georgi Bozhidarov


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