Ignitis Grupe (IGN1L) | Wait For a Breakout!
Hi,
“Ignitis Group” is an international energy company making the world energy smart. It’s one of the largest energy groups in the Baltic region.
The group’s core activities include power and heat production and supply, power and natural gas trading and distribution, and power system maintenance and development.
The development of green energy is a priority for “Ignitis Group” with an aim to become the region’s main competence center for new energy and a leader in distributed energy solutions in the Baltic Sea region and beyond.
Technically speaking we have quite a strong horizontal price zone just above the current price. Last weekend Ignitis got pretty pumped up at one of the largest investment conferences in Estonia but still, no rush because as said we have a strong horizontal price zone just above the current price and it can act as a strong resistance level.
Game plan: Wait for a breakout, wait for a weekly or monthly candle close above the shown area, let's say around €20.5. Then you are ready. After that investors have found that power to push it through (as you see it has been several times as a support, several times as a resistance - a lot of power needed to go crack it), then wait for a retest of the breakout area and technically you have done everything correctly ;)
Do your homework by doing a fundamental analysis!
Regards,
Vaido
“Ignitis Group” is an international energy company making the world energy smart. It’s one of the largest energy groups in the Baltic region.
The group’s core activities include power and heat production and supply, power and natural gas trading and distribution, and power system maintenance and development.
The development of green energy is a priority for “Ignitis Group” with an aim to become the region’s main competence center for new energy and a leader in distributed energy solutions in the Baltic Sea region and beyond.
Technically speaking we have quite a strong horizontal price zone just above the current price. Last weekend Ignitis got pretty pumped up at one of the largest investment conferences in Estonia but still, no rush because as said we have a strong horizontal price zone just above the current price and it can act as a strong resistance level.
Game plan: Wait for a breakout, wait for a weekly or monthly candle close above the shown area, let's say around €20.5. Then you are ready. After that investors have found that power to push it through (as you see it has been several times as a support, several times as a resistance - a lot of power needed to go crack it), then wait for a retest of the breakout area and technically you have done everything correctly ;)
Do your homework by doing a fundamental analysis!
Regards,
Vaido
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