FOSCHINI - Mid-channel analysis ($JSETFG)

Hi Guys

So having a look at FOSCHINI, we may derive the following from the weekly chart:

1. Price is trading in an equidistant channel, where the bears appear to be in control.

2. We may therefore test the weekly uptrend support near the 200 SMA.

3. I am favouring a move to downside but wouldn't rule out the possibility of a break to the upside where we may then retest the ATH.

4. Since we are in the middle of a channel, there would be little room to trade. Wait for a good entry.

Let's see what happens.

Note: The views provided herein do not constitute financial advice.