AG Leventis Plc Sentiment Analysis Report W/E 050412
Tuesday, April 10, 2012/ Proshare Research
AGLEVENTexperienced a strong bullish week to record 19.8% gain against -4.5% loss recorded in the previous week.
We observed a very strong uptrend momentum as the stock is trading outside upper Bollinger bands. Though, the stock recorded more of bearish volume.
Also, we observed a fresh bullish interest towards the stock in the last trading session with a corresponding bullish volume buttressed by bullish mode revealed by MACD with sharp northward movement in money flow index
Notwithstanding, the stock is trading at overbought region as revealed by RSI, buttressed by the price position above upper Bollinger bands while the price closed neutral and bearish in short and long term respectively as revealed by price moving averages.
Technical conclusion on sentiments: The stock is due for correction, considering the overbought position of the stock as revealed by RSI. However, the stock may sustain the uptrend, considering the strong bullish sentiments witnessed in the week buttressed by huge bullish volume recorded in the last trading session. We advised a cautious trading while a lower opening in the next session could incite the price correction as noted above. The chart below shows MACD, candlestick, RSI and volume
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