Algo Signal Update – GrainCorp

As an update to last week’s post on GrainCorp, we again remind readers that GNC is approaching an oversold level.

We expect support will likely develop at or near the current price level.

You're not a member!  Trial today!

The trade in GNC is  likely to be a corrective move from oversold conditions.

The stock price is unlikely to develop into a meaningful uptrend.  We recommend a stop loss below the final pivot, or entry point. GNC

$8.50 – $9.00 is buying support with $9.50 is the profit target.

Chart – GNC

 

 

 

Investor Signals Pty Ltd ABN 44 143 555 453 is a Corporate Authorised Representative CAR No. 439411 of Advisor Plus Pty Ltd AFSL 474520
© 2020 Investor Signals