Asuzu Trend Analysis for the symbol BIST:ASUZU by desmond34 — NewsOfFinance


First of all, I would like to remind you that my study is not an investment, buying or selling advice, but a graphic price analysis study.

In this study, in a weekly period ASUZU I analyzed the chart.

With the trend starting from PD / DD 2 level, a strong trend was formed in which PD / DD reached 18 levels in 315 days. It seems that we are in the correction of this trend. When I check the Fibonacci retracement levels from the bottom of the trend to the top, it seems that it is trying to hold on at the level of 0.618.
Although it tries to hold on in this region, the price continues on its way by making new lows. It is expected that the price will continue similar reaction and bearish movements without making a new high.

The 0.50 retracement zone of the last falling wave and the falling black trend line is a strong resistance zone. If it comes to this region and makes a second peak and the trend continues to decline, the decline may be more severe.

Important notes:
* Prices continue by making new lows.
*Trades below the 200-day average in the daily period
* If the decline continues, Death cross will occur.
* At the start of the trend ea Contrary to the uptrend that started with the 9/21 intersection, it produced a sell signal.
* The correction levels of the last bearish wave are an important resistance in the short term.


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