The technical analysis of the Sesagoa stock, using Ichimoku analysis, is given above.
The closing stock price as on 29th December is 323.00
One look chart, or the Ichimoku chart, provides these additional indicators to ponder upon:
The short term indicator – Tankan Sen – is at 305.90 and the other indicat0r = Kinjun Sen is at 308.98. slightly above the short term Tankan sen
Another indicator, Chikou Span – which refers to the price 26 days behind – is at 326. In other words, today’s closing price is below the price 26 days ago – a bearish indicator.
The other two indicators, Senkou Span A and Senkou Span B, which form part of the Kumo cloud are 344.16 and 345.13 respectively. In other words, Senkou Span B is slightly more than Senkou Span A – a key indicator that the Kumo Cloud is turning red. The forward indicators for Kumo Cloud do not project a favourable turnaround in the near term, raising speculation that the prices might drift lower in the short term.
It is advisable to adopt a wait-and-watch attitude and not take fresh positions in the stock at present.
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