SOUTHBANK breaks out of a daily consolidation with support from volumes. MACD indicator supports well with a positive cross as well as rising MACD Histogram. That means both trend and momentum are in favour of this move up. On the upside, immediate target comes in at 35-36 zone.
SOUTHBANK is on the verge of breaking the Symmetrical Triangle pattern. It has strong support at 28.30 and has been trading in the range of 28.30 to 29.60 for past 7 days.
One can go long on confirmation of breaking above the triangle pattern.
Stock Posted bad result there is NPI is problem so avoid this stock in this quarter and there 30 is looking like top in southbank for short term so 30 is resistance buy only above that below can sell for 25-23
The Chart is having multiple Resistance at this level. Yesterday's price movement at double top region is suggesting a potential short. Pitchfork handler is showing good frequency around it so price may follow it. The Trade is available with small Stop Loss so worth taking risk.