SSAB A share has rekylerat the past week which creates a köpläge when the shares are re-testing support around 39.50 usd from the top. So long as support remains intact on a weekly basis, the odds are good for a continued rise towards 53.50£.
SSAB A share’s long-term weakness is likely over, then the share, made a major leap upwards from a dubbelbottenformation in the beginning of last year. During the recovery phase, the shares have passed 30sek level which was previously a crucial juncture in the form of a resistance during the greater part of 2016.
Kraftansamlingsfasen between 32.80 and 40kr from november 2016, forcerades on the top in the middle of July which again strengthens the odds that the share started a long-term recovery in the past few years drops in price.
The previous resistance at 39.50 sek has been converted to a support… which was tested from the top in August, after a marginal boost resulted in a decision on refusal of entry candlestick in the forn of a hammer, which reaffirms that the buyers hold the baton.
In the last week, the shares have once again rekylerat down against the support which creates a köpläge then a stoploss can be placed narrowly in relation to the potential on the upper side. So long as the share price on a weekly basis closes above 39.50 usd, the odds are good for in the long term, a rise to the top from 2015.
Would share defy the technical positive image by having a significant close below the 39.50 usd opens it up for further decline towards the support at 35, followed by 33 sek.
The share traded above the long-term rising jämviktsvärdet, MA 40 weeks.
The OMXS Large Cap
The stock is traded on the stockholm stock exchange, under the symbol SSAB A.
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