Bullish Divergence on Astral foods

ARL

The share has been trending down and the 200 week EMA seems to have held well as resistance. With a couple of fake breakout above the 200 week EMA. We have a bullish divergence with the price making lower lows but the MACD making higher lows. I will now wait for the break through the resistance level of R166 and close above R170 (3%) Potentially closing above the 200EMA as well. To target the previous resistance at around R220.

Full plan - villagetrader.co.za/2020/09/28/week-28-september-2-october-analysis/