REEF.N DailyThis chart and analysis are not financial advice. Do your own research before trading or investing.
CSELK:REEF.N0000
Trend Analysis
Current phase: The stock appears to be consolidating near a support zone between 4.00–4.30, hinting at potential accumulation.
Moving Averages
30 MA (Yellow): The 30 MA acts as dynamic resistance, with the price frequently closing below it, suggesting short-term bearish momentum.
50 MA (Purple): The 50 MA is closer to the price, providing another resistance layer. A crossover or a sustained move above both MAs may indicate early signs of bullishness.
Support and Resistance
Support: The zone around 4.00–4.30 has held well, with the price bouncing from these levels multiple times. If this zone breaks, a retest of lower levels is likely.
Resistance: Key resistance levels are seen at:
4.70: Close to recent price highs and a Fib retracement level.
5.60–5.80: A major hurdle aligning with the long-term descending resistance.
Bull Case Scenario
A breakout above 4.70, with strong volume, could propel the price toward the 5.60–5.80 resistance zone.
Sustaining above 30 MA and 50 MA would signal short-term bullish momentum.
Bear Case Scenario
Failure to hold the 4.00–4.30 support zone may lead to further downside, possibly targeting 3.80 or lower.
Continued rejection at the 30 MA or 50 MA would confirm sustained bearish pressure.
