IMG on trendline

This is a good example of using 2 levels of supports in close proximity for a first touch basis trade.
this went slightly through the trend line but was backed up by the support just below the trend line.
Thanks to GGOK for spotting this at the time. Hope you bought into this at the time

DYOR

Hi ggok
Its bang on that major trend line. Good spot mate.
If this breaks below that trend line then this could really go down so one to be careful off.
If you were to go long on this then best have your stop just below 391. A finish below that would confirm a break id suspect and could get nasty.
All the indicators are bearish on this thou like the obv ,rsi and macd


One to keep an eye on .
I would be long from the touch of the trend line with a stop below 391.As i always trade of the first attempt of a trend line.

DYOR

Hi Remo
What do you think to IMG chart?
At support I think.
Thanks
G

hI
I just had a look at shares on loan for this one and it shows as only 2.5%.
I looked at volume of buys to sells today and it is in favour of the buys.
Not sure why the price drop today.
Ta
G

This looks quite bearish although there is support at 408.70p on the hourly.

But if that goes I would short with the Major support on the weekly at 297.63p as the target!

Should have said, you need to imagine todays candle on this as the data is one day old!