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by Darius Anucauskas

Distribuidora Inter de Alimentacion Stock Is Stuck Between The Lines

Looking at the stock of Distribuidora Inter de Alimentacion (BME: DIA) on the 4-hour chart, we can clearly see that the price is currently stuck between two lines, a short-term upside support one drawn from the low of March 10th, and a short-term downside resistance one taken from the high of January 6th. For now, we will take a neutral approach and wait until we get a clear break through one of these line before a further directional move.

If the stock gets pushed through the aforementioned downside line and climbs above the 0.0909 barrier, marked near the highs of February 24th and March 12th, more buyers could see an opportunity to join in and help lift DIA to the next potential resistance area between the 0.0998 and 0.1012 levels, marked by the highs of February 18th and 12th. DIA might stall there, or even correct a bit lower. However, if the stock remains above the 0.0909 hurdle, or the previously-mentioned upside line, this could still keep the bullish scenario on the table. New buyers might step in and push the share price up again, potentially bypassing the 0.1012 barrier and targeting the 0.1103 level, marked by the high of January 22nd.

Our oscillators, the RSI and the MACD, are showing slightly mixed results. The RSI seems to be in support of a possible move higher, as it continues to run above 50 and points slightly to the upside. The MACD, on the other hand, although it has been above zero for some time already, is currently running flat and slightly below its trigger line, which supports the idea of staying neutral for now.

Alternatively, if the share price drops and stays below previously-discussed upside line, this may raise concerns among new investors, especially if the stock slides below the 0.0762 territory, marked by the low of March 20th. If DIA still finds it difficult to attract new buyers, it may continue to drift south, possibly overcoming the 0.7000 area and targeting the low of March 16th, at 0.0643.

Distribuidora 4hour

Anotación: Artículo traducido del original en inglés

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