Stock: PIZZA
Company: Shakey’s Pizza Asia Ventures Inc.
Support: 17.40 / 7.11
Resistance: 7.68 / 8.41


PIZZA ended the first trading week of 2021 with a dragonfly doji candlestick formation. During yesterday’s trading session, it plunged down to 7.50 as its lowest. Eventually, it closed at its peak at 7.60, up by +0.04 points or +0.53%.

Looking through a wider lens, PIZZA is on a downhill path since Dec, after climbing steadily for 2 months.

Technical are bearish overall. MACD signals sell with increasing histograms, while RSI in the neutral region. Additionally, -DI has overtaken +DI accompanied with declining momentum.

Support can be located around 7.40, with MA50 serving as its immediate resistance at 7.68. Since a doji candlestick was formed, the downtrend might get reversed soon.

Recommendation

Buy when support holds.

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