STX Pan Ocean 230508

After opening right on the 3.47 support (red --), STX Pan Ocean started trading above 3.53 resistance (pink --), before softening to break below the 3.47 support and long term downtrend support (mid red).

STX Pan Ocean even went on to break, and closed the day below, the 3.36 support (blue ...).

What a week it has been for STX Pan Ocean ! Started the week testing the 4.00 level, and ended the week breaking the 3.36 support.

If you look at its trading patterns since 21 apr (or even earlier), you'd find that such ups and downs are not unusual for STX Pan Ocean.

If STX Pan Ocean breaks the long term downtrend support (low red), we could see it testing the 3.26 support (green ...) and 3.18 support (blue --).

For all you know, we could see STX Pan Ocean testing the long term downtrend support (low red), and then rebounding up to test the 3.47 resistance (red --) and 3.53 resistance (pink --).



For monday :

Support @ 3.308 (low red), 3.26 (green ...), 3.18 (blue --).
Resistance @ 3.46 (mid red), 3.47 (red --), 3.53 (pink --), 3.60 (upp blue), 3.65 (green --)

Good Luck !!