Traders Beware!

Fraudulent websites posing to have a connection with JFD

Please be aware of fraudulent websites
posing as JFD's affiliates and/or counterparties

More information
by Darius Anucauskas

Can Merlin Properties Stock Move Towards The Upper Bound Of The Range?

After hitting its historic low in March, at 6.63. the Merlin Properties SA stock (BME: MRL) initially moved a bit higher, but this week it came close to that all-time low again. However, the share price did not test the 6.63 hurdle and instead it started pointing higher, this way confirming a range, roughly between the 6.63 and 8.46 levels. Overall, it seems that MRL might stay within that range for a while, but from the short-term perspective, we could see a bit of upside within that range.

A push back above the 7.30 barrier, marked by the high of this week, may attract a few new buyers into the game, where the next potential target could be at 7.81. That area marks the high of May 11th and there could be a chance for MRL to stall there for a bit. That said, if the buying doesn’t stop there, a further push north could bring the stock to the upper bound of the aforementioned range, which is at the 8.46 zone.

Looking at the RSI and the MACD on our 4-hour chart, at the time of writing, both indicators are pointing slightly to the upside. Although the RSI is below 50 and the MACD is below zero, both oscillators seem to be showing willingness to move up a bit. In addition to that, the MACD is fractionally above its trigger line. This supports our current outlook of seeing some upside in the near term and confirms our view of staying neutral overall.

If, by any chance, the stock falls through the lower side of that range, at 6.63, this would confirm a forthcoming lower low and deeper extensions to the downside might be possible. Because MRL would be placed into an uncharted territory, we can only assume that certain key levels like 6.00 and 5.00, could become potential targets.



The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. The Group of Companies of JFD, its affiliates, agents, directors, officers or employees are not liable for any damages that may be caused by individual comments or statements by JFD analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. Accordingly, you should seek, if you consider appropriate, relevant independent professional advice on the investment considered. The analyses and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyses and must therefore be viewed by the reader as marketing information. JFD prohibits the duplication or publication without explicit approval.

There are risks involved with trading of cash equities. Past performance is not indicative of future results. You should consider whether you can tolerate such losses before trading. Please read the full Risk Disclosure.

Copyright 2020 JFD Group Ltd.