Zac 4 Sep 2015 11:18
Dont forget this was released yesterday
Given the generally illiquid looking price action and overall spikey demeanour, it would normally be the case that Invista European Real Estate would not make the grade as a far as being a Bull Call Of The Day. However, recent recovery moves and the fact that the stock has been requested by a Shareprophets.com reader mean that it has been placed in the limelight today. From a technical perspective the near term excitement stems from the way that the 50 day moving average now at 0.22p has been recovered over the past three sessions. Typically, one would expect to see a sustained move to the upside after the recovery of this feature, and so far it would appear that Invista is playing ball chart wise. Indeed, provided there is no weekly close back below the 50 day line one would be gunning for significant upside. Just how far this situation could fly is currently being suggested by the top of the broadening triangle in place on the daily chart since the beginning of the year. This feature has its resistance line projection stretching as high as 1.5p – a target which could be achieved over the next 2-3 months at the latest. In the meantime any dips towards the 50 day line to cool off the overbought RSI at 70 plus can be regarded as a buying opportunity. - See more at: http://www.shareprophets.com/views/14722/zak-mir-s-bull-call-of-the-day-no2-invista-european-real-estate-15p-autumn-target#sthash.DdpgFtHc.dpuf