Globaltrans Investment PLC : Anticipation of a bearish reversal
Entry price | Target | Stop-loss | Potential |
---|
$3.9 |
$0 |
$4.12 |
+100% |
---|
The share is approaching a technical resistance and could return to a bearish configuration.
Graphically, the share is in a period of technical rebound that allowed it to reach the USD 4 mid-term resistance. This area could trigger a sell signal for investors in case of profit-taking. Furthermore, the rallying of the USD 3.4 support area will be considered for upcoming sessions.
Due to the technical configuration and a bad fundamental situation that does not justify the current valuation of the group, investors can open a short position close to the USD 4 resistance. The price target is set at USD 3.7 and USD 3.4 with a stop-loss placed above USD 4.
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