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AFC weekly 03/07/13

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I've chosen to show this simple weekly chart of AFC as it clearly shows how the trendlines are providing good supports and resistance.

The recent spike up to 52.05p exactly hit the resistance and without a close above that level it's unlikey that higher prices will follow.

As can be seen, this share spikes around a lot with very quiet periods in between so it's clearly a very news affected share and therefore a bit unpredictable. Purely from a technical point of view, the 52p level should have been sold and I'd now be either short or waiting for either a Fib support (not shown) or the lower trendline for a long entry.

I tend to stay away from shares like this for obvious reasons.
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Guest Saturday, 13 August 2022