Deeper TA on Shuka18 Jun 2026 15:41
OK, for those trying to understand current price action from a technical point of view, lets run through it...
Price has broken out of a multi-month base
SKA spent considerable time trading between roughly 2.70β3.20p. The recent move to 4.00p+ suggests buyers are accumulating. The current pull back is a healthy profit taking retrace bringing us to a likely new higher low base range between a cluster of moving averages including the EMA 10 at 3.23, EMA 20 at 3.11 and SMA 20 3.04. The MACD is a buy, most 10 -100 moving averages a buy and rsi on daily is 53 which is not overbought, but in the region where the wind is blowing more bullish. Monthly rsi over sold still around 39 so loads of room to grow on short and longer term rsi.
Only indicator that is still showing a bearish bias is we are below the 200 day sma set at 3.79. We broke above briefly but snapped back, trapping late bulls. However, this will be a short lived bull trap as likely we accumulate around a new higher support level between 3.05 and 3.20, ready for a move higher again in 1 to 3 weeks time. next resistance to break is 3.64 at the 1.618 fib extension to indicate our wave 3 has started of a possible 5 wave move. That should take us to 4.20 again and likely we break that and complete the 5th wave around 4.80 to 5.20. Min target worse case scenario is 4.20 again. If we hit 5p area, expect resistance and a pull back for a 4th wave correction which takes us back to around 4.20 again (or lower) ready for 5th wave to 6p +
A fall below 3p, will likely reset us back to 2.60 area again to start fresh accumulation lower down (unlikely give the news by MMs may try to drop us). Any drop below likely will be a brief bear trap however, so don't panic if we do. In summary, 5p area looks likely in a week or 3 and eventually I see 6p + mid term. From a fundamental perspective and mid term likely target, 8p to 10p is likely. Warrants at 8p a good first mid term target. Crazy cheap mcap here