Graincorp - Upside Tendency following 7 Consecutive Down Days
Friday marked the 7th consecutive down day for Graincorp Ltd. Interestingly, last week, Morgan Stanley downgraded GNC from overweight to equal-weight. However, this 7-day losing streak has failed to take the price below the 200-day moving average. Similar types of pullbacks above the 200-day moving average have usually manifested to the upside, with an average 9-day gain of 4.2% & a win rate of 7 from 8.
Disclaimer: This data is not financial advice. Past performance is not a guide to future performance and may not be repeated. Past performance does not diminish the risk expectancy of any strategy. By its very nature ‘risk’ means you could and most likely will experience losses. No representation or warranty is given as to the accuracy or completeness of any information provided. Data is for educational and informational purposes only.
Disclaimer: This data is not financial advice. Past performance is not a guide to future performance and may not be repeated. Past performance does not diminish the risk expectancy of any strategy. By its very nature ‘risk’ means you could and most likely will experience losses. No representation or warranty is given as to the accuracy or completeness of any information provided. Data is for educational and informational purposes only.